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<br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />'I <br />II <br />I <br /> <br />000851 <br /> <br />The Engineering Report showed potential tax revenues of <br />$66,700 for 1962 if the 2 mill rate were applied during that <br />year. Actually the assessed valuation of the ute District for <br />1961 was ~35,l04,170. Since taxes are normally collected at <br />the rate of 98% to 99%, the amount which would be collectable, <br />at the 2 mill rate, during 1962 would be at least C69,OOO. <br />This amounts to approximately 3.5 percent, for the year <br />considered. However, when projections are extended for several <br />years the difference in potential revenue reaches extremely <br />important proportions. <br /> <br />- 19 - <br /> <br />. <br />_.:~ <br />