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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 /> <br />Qn~2~' <br /> <br />in 1990. The development costs of the consolidated Three Forks Dam and reservoir was <br /> <br />estimated in 1984 to cost $72,500,000. Using the USBR construction cost index for dams, <br /> <br />the 1990 cost estimate is about $81,400,000. Amortized at 4 percent interest over 30 <br /> <br />years, the annual cost per are-foot would be about $80 including 0 & M costs. Thus the <br /> <br />1990 net required future revenues would be $165. <br /> <br />The possibility of Three Forks Project being constructed in 1990 is nil. However, <br /> <br />the Wyoming Public Service Commission advised that within the next ten years the Pacific <br /> <br />Northwest will probably need additional electric energy and therefore there will be an <br /> <br />increased market within Wyoming. Thus, it is reasonable to assume that the Three Forks <br /> <br />Project might be initiated within ten years and at least partially developed in twenty. <br /> <br />Discounting the $165 per acre-foot per year at 4 percent for the 20 year development <br /> <br />period would mean that the annual cost would be $75 per acre-foot. If the development <br /> <br />were delayed until the year 2030, the annual cost would be about $35 per acre-foot. <br /> <br />Alternative Source or Supplv <br /> <br />While the Sandstone Project has not been constructed, it is further along towards <br /> <br />development than is the Three Forks Project. Therefore, Sandstone Reservoir can be <br /> <br />considered as an alternative source for the first portion of the Three Forks development. <br /> <br />Assuming that the Water Development Commission will sell Sandstone yield at its <br /> <br />amortization cost plus 0 & M costs, a reasonable estimate of the present cost of <br /> <br />Sandstone water is $125 per acre-foot of yield per year. Since the present cost of Three <br /> <br />14 <br />