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<br />RECOMMENDATIONS 65 <br /> <br />One of the key recommendations of the Committee is the establishment of an <br />Energy Impact Assistance Fund to be used to provide various forms of front- <br />end financing for areas meeting the criteria of the boom town designation <br />standard. The Fund would be designed to assist local areas impacted by <br />coal and uranium development, and for oil shale impacts requiring quick <br />response assistance. Major front-end financial needs of communities <br />likely to experience oil shale impacts can be met by the Oil Shale Lease <br />Fund. <br /> <br />The Energy Impact Assistance Fund should be built up over a 10 year period, <br />and it should eventually contain from $30 to $50 million. <br /> <br />Recommended sources of monies for the Energy Impact Assistance Fund are: <br /> <br />(a) Interest from the Oi 1 Shale Lease Fund. * <br /> <br />(b) All future royalty payments, other than the 37.5 percent already <br />designated, to the state from the Federal Coal Leasing Amendment <br />Act of 1975. <br /> <br />Other possible sources include: <br /> <br />. Proceeds from a coal and uranium severance tax <br />. Federal aid included as part of a synthetic fuel bill <br />. Appropriations from the state legislature <br />. Issuance of bonds or borrowing from the Department of Interior <br />. Money currently in the Oil Shale Lease Fund <br /> <br />The major uses of the Energy Impact Assistance Fund would be to: <br /> <br />(a) Make direct loans to local governments. <br /> <br />(b) Make direct loans for site acquisition, demolition, and <br />utility installations. <br /> <br />(c) Finance warrants and guarantee bonds issued by local governments. <br /> <br />*This portion of the Energy Impact Assistance Fund should be earmarked for <br />oil shale impacts. <br /> <br />~"O!J <br />