Laserfiche WebLink
<br />0) <br />~J <br />~~ <br /> <br />of $14,500 which should be retired before repayments are begun. <br /> <br />A period of three years is recommended for the Harvey Gap plan <br /> <br />to accomplish this and readjust farming practice before payments <br /> <br />on reconstruction are required. <br /> <br />With the Rifle Gap Plan the irrigated area is increased 67~ " <br /> <br />and much of the added land ~~ll be in farms not now irrigated. A <br /> <br />development period of six years is considered necessary for these <br /> <br />lands to enable the owners to bring them into adequate production <br /> <br />to meet the contemplated irrigation charges and retire the out- <br /> <br />standing indebtedness on existing works. In order that the <br /> <br />development period for these lands is properly used, suspension <br /> <br />of construction charges should be made contingent on proper <br /> <br />steps to retire the indebtedness and suitable progress by the <br /> <br />owner in leveling, ditching, seeding, fencing, and the erection <br /> <br />of improvements. <br /> <br />Interest paid on indebtedness for the six-year period ending <br /> <br />December 31, 1939, has averaged ~600.00 per year. Elimination <br /> <br />of this expense, by liquidation of the outstanding indebtedness <br /> <br />of ~14.500, would reduce operating costs approximately l4t per <br /> <br />73 <br />