Laserfiche WebLink
<br />O':l <br />M inducement for participation in the project by land owner, the net <br />C\J <br />balance for project construction repayment is $2.25 per acre. On such <br /> <br />a basis the total annual repayment from irrigation, with 6,488 acres <br />served, is $14,598. Over a period of 40 years it is $583,920. <br /> <br />Repayment by Rifle City <br /> <br />In Appendix A of this report the water rights and the water needs <br /> <br />of Rifle City are discussed. It is suggested that Rifle City purchase <br /> <br />1,000 acre-feet of project water to be made available an a, demand basis <br /> <br />from the Rifle Gap Reservoir. On basis of full repayment of the average <br /> <br />cost of project water it would be expected that the city would repay <br /> <br />$138,000 over a period of 40 years, or $3L450 per year for such water. <br /> <br />The city would also be obligated to pay 1/9 of the operation and <br /> <br />maintenance cost of the Rifle Gap Reservoir. The balance or 8/9 the cost <br /> <br />of operation and maintenance would be paid by irrigation interests. <br /> <br />Summary of Project Repayment <br />The following is a swnmary of project repayment as discussed <br /> <br />above: <br /> <br />Repayment by project irrigation interests <br />($14,598 per year over 40 years) <br /> <br />$ 584,000 <br /> <br />Repayment by City of Rifle <br />($3,450 per year over 40 years) <br /> <br />138,000 <br />$ 722,000 <br /> <br />Total Repayment <br /> <br />u <br />