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<br />:36
<br />
<br />1984
<br />1985
<br />1986
<br />1987
<br />1988
<br />1989
<br />1990
<br />1991
<br />1992
<br />1993
<br />1994
<br />1995
<br />
<br />MONDAY
<br />
<br />AUGUST 8, 1977
<br />
<br />CITY OF MARTINSVILLE, VIRGINIA
<br />
<br />ALLOWABLE BOND ISSUE
<br />RIDGEWAY HYDROELECTRIC PROJECT
<br />
<br />Capital Investment Cost (1)
<br />Reserve (2) .
<br />Bond Discount (3)
<br />
<br />Bond Issue
<br />
<br />TABLE VIII-3
<br />
<br />$32,262,000
<br />2,900,000
<br />838,000
<br />
<br />$36,000,000
<br />
<br />(1) - Based on assumed capital investment for project,
<br />on-line in late 1984 (first full year of operation
<br />in 1985), of $1,900 per installed kW.
<br />(2) - One year debt service (based on 30-year bonds at
<br />7% interest) of 8.06% of bond issue.
<br />(3) - Assumed 2.3% + of bond issue.
<br />
<br />CITY OF MARTINSVILLE, VIRGINIA
<br />
<br />COST COMPARISON
<br />BASED ON ALLOWABLE BOND ISSUE
<br />
<br />Cost of
<br />Purchased Power
<br />(1)
<br />
<br />Net Annual
<br />Cost of Power
<br />from Project
<br />
<br />$ 1,913,000
<br />2,047,000
<br />2,190,000
<br />2,344,000
<br />2,508,000
<br />2,683,000
<br />2,871,000
<br />3,072,000
<br />3,287,000
<br />3,517,000
<br />3,763,000
<br />4,027,000
<br />
<br />$ 0(3)
<br />2,054,000
<br />2,034,000
<br />2,392,000
<br />2,369,000
<br />2,343,000
<br />2,317,000
<br />2,288,000
<br />2,257,000
<br />2,225,000
<br />2,190,000
<br />2,152,000
<br />
<br />(1) - Escalated at annual rate of 7%.
<br />(2) - Based on 6.0% interest rate and
<br />assumed commercial operation
<br />begins at the end of 1984.
<br />(3) - Project operated last few weeks
<br />of year and interest capitalized in bond
<br />issue for entire year.
<br />
<br />Loss or Gain
<br />
<br />$ 0
<br />-7,000
<br />156,000
<br />-48,000
<br />139,000
<br />340,000
<br />554,000
<br />784,000
<br />1,030,000
<br />1,292,000
<br />1,573,000
<br />1,875,000
<br />
<br />TABLE VIII-6
<br />
<br />1984
<br />Present Worth
<br />of Losses and
<br />Gains (2)
<br />
<br />$
<br />
<br />o
<br />-6,600
<br />138,800
<br />-40,300
<br />nO,lOO
<br />254,100
<br />390,500
<br />521,400
<br />646,200
<br />764,700
<br />878,400
<br />987,700
<br />4,645,000
<br />
<br />$
<br />
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