Exhibit 3.4
<br /> Indian River County
<br /> Wastewater Impact Fee Calculation
<br /> _Wastewater Sludge Management Capital Investment Per mgd of Capacity
<br /> Present Value
<br /> Actual/11993 Inflated Present of Future
<br /> L, Dollars Dollars Value of Expenditures
<br /> Capital Capital Future Plus Past Buildout Unit
<br /> Year Investment Investment Expenditures Expenditures Capacity Investment
<br /> w Prior $5,588,000 $5,588,000 $3,479,157 $9,067,157 13.50 $671,641
<br /> 1993 $0 $3,757,490 $9,345,490 13.50 $692,258
<br /> 1994 $0 $4,058,089 $9,646,089 13.50 $714,525
<br /> 1995 $2,000,000 $2,205,000 $2,177,736 $9,970,736 13.50 $738,573
<br /> 1996 $0 $2,351,955 $10,144,955 13.50 $751,478
<br /> 1997 $0 $2,540,111 $10,333,111 13.50 $765,416
<br /> 1998 $0 $2,743,320 $10,536,320 13.50 $780,468
<br /> 1999 $0 $2,962,786 $10,755,786 13.50 $796,725
<br /> 2000 $500,000 $704,000 $2,495,809 $10,992,809 13.50 $814,282
<br /> 2001 $0 $2,695,473 $11,192,473 13.50 $829,072
<br /> 2002 $0 $2,911,111 $11,408,111 13.50 $845,045
<br /> 2003 $1,930,000 $3,144,000 $0 $11,641,000 13.50 $862,296
<br /> 2004 $0 $0 $11,641,000 13.50 $862,296
<br /> 2005 $0 $0 $11,641,000 13.50 $862,296
<br /> 2006 $0 $0 $11,641,000 13.50 $862,296
<br /> 2007 $0 $0 $11,641,000 13.50 $862,296
<br /> 2008 $0 $0 $11,641,000 13.50 $862,296
<br /> 2009 $0 $0 $11,641,000 13.50 $862,296
<br /> y 2010 $0 $0 $11,641,000 13.50 $862,296
<br /> Discount Rate:8%
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