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<br />In <br />C":l <br />~ <br /> <br />interest -- the school district, the city, and the county. The school <br /> <br />district will have to bear the largest costs of the expanding population. <br /> <br />Total education costs will rise from $75,000 in 1975 to $1,737,000 <br /> <br />in 1977; this increase is due largely to the need for additional capital <br /> <br />construction to meet the peak demand of 1977. In 1978 and thereafter no <br /> <br />additional capital construction is seen as necessary, but operating costs <br /> <br />will average an estimated $405,000 annually. (It has been assumed that <br /> <br />certain capital costs are actually incurred prior to 1977; otherwise these <br /> <br />figures would increase.) Revenue will increase slowly through 1976, then <br /> <br />begin to increase quite rapidly as plant and housing construction is <br /> <br />assessed and taxed. These early low revenue years are when great capital <br /> <br />expenditures are needed for school construction purposes. However, tax <br /> <br />revenue catches up very quickly: it triples to $1,462,500 in 1978, and <br /> <br />nearly doubles agairt in 1979. It should be noted also that the annual <br /> <br />property tax due just to plant and plant-related housing and commercial <br /> <br />activity in 1979 is greater than the total operating and capital expense <br /> <br />needs for the period 1975-1979 inclusive. It seems clear, therefore, that <br /> <br />what is needed is some temporary source of funds for a three or four year <br /> <br />period while school construction and operating costs rise rapidly. If the <br /> <br />school mill levy remains at approximately 43 mills as it is in 1973, the <br /> <br />financial bind should be over by 1979. <br /> <br />Total costs will be lower for the City of Craig, ranging from $108,000 <br /> <br />in 1975 to $957,000 in 1977. However, plant-related revenues for the city <br /> <br />are also much lower never exceeding $100,000 until 1978 after the expendi- <br /> <br />. ture needs have passed. The main reason for this is that the city will be <br /> <br />required to provide most if not all of the social services for the greatly <br /> <br />expanded population, but will not be able to tax the power plant installation <br /> <br />iv <br />