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<br />. <br /> <br />. <br /> <br />6 <br /> <br />. i~provement is to proceed and go ahead. <br /> <br /> <br />I will answer ~uestions later, which you may have, after <br /> <br /> <br />l'r. l", povich comr letes hi s pre sent at i on of the other information. <br /> <br />I have not discussed costs or financing since that is the matter <br /> <br /> <br />which he will discuss. Thank you very much. (Applause) <br /> <br />I,R. P::TER "'. ?OPOVICH, Peterson 8. Popovich: Bill, ",)hy <br /> <br />don't you slip on that cost slide. I'll stay down here so my <br /> <br /> <br />shadow doesn't reflect because with the items being numbered I <br /> <br />can refer to tern and you will be able to follow me. These are <br /> <br />the costs that are anticipated in this improvement if it is ordered <br /> <br />and we have tried to break them down so you would have an idea about <br /> <br />how you would be affected, bearing in mind that this is purely <br /> <br />estimated, as we indicate on the top line, for the simple reason <br /> <br />. <br /> <br />that we will not know exact costs until all the construction bids <br /> <br />are let. However, we have tried to follow the basis that all of <br /> <br />the costs v'e have indicated are conservative - that.'ie vlOuldn't <br /> <br />go over and that we probably won't 'jet that 11i9h. ',:e f e It it better <br /> <br />tc estimate toward Jreater costs and stay within it rather than <br /> <br />estirate a lONer cost and then exceed it. <br /> <br />Improvement Nc. 1 was estimated at ~13C,GOC and S12C,GCC bonds <br /> <br />were actually issued. <br /> <br />'n no. 3 the estimated improvement cost <br /> <br />is 1565,OOO.CO. That's the actual cost of construction that the <br /> <br />engineers have estimated including the obtaining of ea'sements and <br /> <br />letting of construction costs. <br /> <br />,e have rounded it off to a proposed <br /> <br />bond issue of S60C,OOO.OC. The reason for that is because in <br /> <br />. <br /> <br />addition to the construction costs you have interest costs during <br /> <br />the course of construction because it rnQY take a year to get the <br />in <br />whole thing done. By the time the assessment rolls are/process <br />