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<br />. ' <br /> <br />o <br />~I <br />, . <br />~~, <br /> <br />the various comronents of the project, before the project gets <br /> <br />finalized. <br /> <br />Proposed financing. <br /> <br />The proposed funding for this project is as follows: <br /> <br />San Miguel WCD (bonds or commercial loans) <br /> <br />$ 7,500,000 <br /> <br />CWCB funds (to be rapaid by user charges) <br /> <br />7,500,000 <br /> <br />Total <br /> <br />$15,000,000 <br /> <br />Under this financing arrangement payments to CWCB would be <br /> <br />$437,100 per year, at 5% interest for 40 years for a total <br />repayment of $17,484,000. When the retirement of a bond issue for <br /> <br />the entity's 50% share is included it is expected that the entity <br /> <br />would have to pay an additional amount of $954,720 per year <br /> <br />(assuming an $9.0 million bond issue, which should include <br /> <br />interest during construction and reserve accounts at 10% per year, <br /> <br />to be repaid in 30 years). Adding $20,000 per year for operation <br /> <br />and maintenance increases and $43,710 per year for the CWCB <br /> <br />required reserve fund, the total annual expenses for the project <br /> <br />are $1,460,530. <br /> <br />with annual charges of $1,460,530, the water made available <br /> <br />by the project (estimated at 20,800 acre-feet) would have to sell <br /> <br />-7- <br />