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<br />~ " ~... <br /> <br />- 3 - <br /> <br />the last plant is put in operation would pay power allocation with 3 % interest. <br />The interest component, $31,162,915, would be applied toward p~ent of the <br /> <br />allocation to irrigation. Power revenues over and above rep~ent of the power <br />0< <br />allocation, J~31, 681, 845, would also be applied toward repayment of the irrigation <br /> <br />allocation. The repayment would be as follows: <br /> <br />Repayment of irrigation allocation <br /> <br />Irrigation revenues $ 13,880,000 <br />Interest on municipal allocation 25,112,500 <br />Interest on power allocation 31,162,915 <br />Power revenues surplus to pa;yment of power allocation 31,681,845 <br />Required from Colorado River Storage Project 15.172.740 <br />$117,010,000 <br /> <br />Thus after application of all interest compnent and surplus power reve- <br /> <br />";1 '1\ I ,,~ l \ <br />nues, an BlOOUIlt of $15,172,740 would still be required to $!a'ni.sh payment of the <br /> <br />irrigation allocation. tis is about 13% of such allocation. The total subsidy <br /> <br />to :irrigation, exclusive of the waiver of interest, would be $103,130,000, -.irlch <br />is 88 % of the :irrigation allocation, and 52% of the total reimbursable allocation. <br />On the basis of 53,900 equivalent acres (total acres if all lands to be <br />served were new lands receiving a full supply) the subsidy to irrigation would be <br /> <br />$1,913 per acre. <br />