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Honorable Chairman and <br />Board of County Commissioners <br />9/16/91 <br />Page 35 <br />The adopted increase in uniform charges effective October 1. 1991, with any <br />subsequent increases thereafter, are projected to generate the indicated <br />revenues required for sludge treatment. These projections assume $1,037,000 <br />is generated in Fiscal Year 1993 based on the adopted rates and with <br />increases of 5% annually thereafter due to system growth. Revenues for <br />septage and grease are taken from Table 10. No other revenue sources related <br />to the Regional Sludge Facility are anticipated at this time. <br />Debt service costs are based on net funding the construction fund, <br />capitalized interest fund. and providing for issuance costs and a debt <br />service reserve fund from the proceeds of the issue. The annual principal <br />and interest requirements are estimates provided by the underwriter. <br />Operating expenses are also taken from the projections developed in Table 10. <br />SUMMARY AND CONCLUSIONS <br />The need exists for a Regional Sludge Facility in Indian River County. <br />In addition to being necessary. the February 1988 "Indian River County <br />Wastewater Master Plan" demonstrates that the proposed project will provide a <br />cost-effective method for addressing the management of sludge, septage. and <br />grease in Indian River County. <br />We have projected the costs of the Regional Sludge Facility, both capital and <br />operating costs. These costs are anticipated to commence in the middle of <br />Fiscal Year 1993 when construction of the facility has been completed. <br />Recovery of the cost of grease treatment is anticipated to be through an <br />annual bill forcasted to be $325 for each active grease trap in service. The <br />cost of septage treatment will be entirely through a volume charge at an <br />estimated level of $105 per 1,000 gallons of septage delivered to the <br />M. VRB2/5 <br />