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<br />001719 <br /> <br />average net irrigation receipts available for debt retirement 1I'0uld be <br />$51.920. In 60 yea.rs, tha.t annual payment 'Would retU'e a noninterest.- <br />bearing debt of $3.116.000. In order to collect that amount the farmers <br />would be expect.ed to pay ,$3.60 per acre-foot for the supplemental water. <br />Farmers obtaining additional water from the increased Twin Lakes diversion <br />would pay $2.75 per acre-foot. An ad valorem t.ax levy by the Con~ervancy <br />District 'Would r1lturn an estimated $168,000 ~ ;.M.ch, in 60 years, <br />..auld retire a nOn1nterest-Oearing dabt of $10,082.000. No de'Velopnent <br />period is deemed necessary as on:Q" supplemental _ter would be sold in <br /> <br />the Initial Development. <br /> <br />H;ydroelectric pOll'er revenues would repay the bulk of all reimburs- <br />able construction costs of the Initial :Development. The annual sale of <br /> <br />416.000.000 kilolratthours of finn energy and of 116.000.000 kilovratthours <br />of secondary energy at assumed 'average rates of 5.5 mil1s and 3.3 mills <br /> <br />respective:Q" would provide a gross revenue of $2.855,1di0 each year. <br />Deductions for operation, maintenance, and replacement expenses would <br />reduce that amount to an annual netmvenue of $1.'190.910. The Initial. <br />Development canstruction cost allocated to power is $49.566.000 muCh, <br />it is recommended be repaid in.22 years With interest at 3 percent annua~. <br />However, application of the power interest component to that portion <br />of tha irrigation investment which is beyond the ability of the irrigators <br />to re~ would reimburse :In 60 years the $42,ll3,OOO irrigation coste ~:.--: <br />to be met by hydroelectric power revenues. Over a 6o-year period th _.~~(j.-,. <br />_ J ere . ,.....~. <br />c..- ,'I" <br />fore, power revenues l;~~,,~,1into the Federal treasury a total of ":~;. ( <br />$91,679.000 of wb1ch $42:.,1lJ..OOO rep~sente the PrinCipal investment a ~.:.f G', ' <br />., -12,' 'I'" tJ.lD V"" , t' <br />cost d1rect:Q" allocated to power and $k9~6~OOO represents a repayment V, /" ' :',', <" <br />of irrigation costs by power. It: construction coats decline, the rates .;- r~ (i" <br /> <br />59 <br />