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JUL 20 M3 BOOK 90 PAGE 2.11 <br />?9 <br />sewer <br />Total Plant in Service <br />Less Accumulated Depreciation <br />Net Sewer Utility Plant in Service <br />$5,930,362 <br />2.137.925 <br />$3.792.437 <br />The Water Distribution system consists of 82,960 feet (15.71 <br />miles) of 2"-16" of water mains and 1,251 water meters in service <br />as detailed on pages W-8 and W-9 of the 1992 Annual Report. The <br />system data indicates that the water distribution system is <br />installed to serve an additional 677 lots. The Net Water Utility <br />Plant in Service as of December 31, 1992, as reported in the 1992 <br />Annual Report, is shown as follows: <br />Water <br />Total Plant in Service $3,059,908 <br />Less Accumulated Depreciation 811,778 <br />Net Water Utility Plant in Service 52,248.130 <br />Summary schedule of Water and sewer Plant in service <br />Item <br />Water <br />Sewer <br />Total <br />Total Plant In <br />Service <br />$3,059,908 <br />$5F930,362 <br />$8,990,270 <br />Accumulated <br />Depreciation <br />i <br />$ 811,778 <br />$2,137,925 <br />$2,949,703 <br />Net Utility Plant 1 <br />$2,248,130 <br />$3,792,437 <br />$6,040,567 <br />As a result of this Offer of Sale, the County has been <br />negotiating the purchase of the GDU water and wastewater utility <br />system. The negotiated price is $3,000,000, plus closing costs <br />of aRproximately'S25.000. <br />As a result of the Offer of Sale and changes in the County rates <br />from 1990 to 1993, and possible changes in the GDU utility plant <br />status, the Department requested CH2M Hill to update the 1990 <br />Evaluation Report. The CH2M Hill updated report (copy attached) <br />indicates a supportable 30 -year levelized debt service of <br />$8,030,000 under the existing County rates. <br />Acquisition costs are to be financed from recent bond proceeds, <br />with debt service to be paid from revenues collected from the <br />users of the system. The Department proposes to retain the <br />current GDU line extension charges of $6.51 per front foot for <br />water and $15.77 per front foot for sewer lines installed and <br />available for service. This is to assist in the reasonable <br />recovery of the costs associated with the purchase of the water <br />and sewer lines currently installed and available <br />The revenue to be generated from these charges are <br />revenue projections of the system. <br />26 <br />for service. <br />used in the <br />® M <br />