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L% 2 ~ 1991 TO: ~hms ~mty ~rd of DA~: Feb~a~ 22, 1~1 ~: Extension of County Sewer Se~.ice to the ~iage ~s ~vel~nt ~is is to info~ in a ~re ~lete ~ner of the fin~cing of the you proj~t referenc~ ~ve. ~e ~th~ of fin~ci~ is not ~ing ~e 70/~ ~li~, ~t is ~ foll~s: 1) ~e ~iage ~s ~o~rty ~ers' ~iation ~d the ~vel~r will ~ ~yi~ 1~ of the c~t to extend these lines. 2) ~e ~ty will ~ .~yi~ only for the ~rchase of Right~f~ay ~d clearing as r~ire for the i~l~ntati~ of the Utility ~pit~ I~rov~nt ~oj~t i~ntifi~ as S2. 3) ~e exte~ion of ~ese lines will in~ the ~ent n~r of sewer ~t~rs by 193 (~ent ~ter ~rs) with the esti~t~ revenues fr~ these a~itions ~i~ ~ti~t~ to $2,~.~. ~e a~iti~al trea~nt c~t is esti~t~ to $1,~.~, ~us total ~tential revenues is esti~t~ to $1,~.00 ~r ~th. (~is ~s not t~e into ~iderati~ any furze ~ases of this devel~nt) 4) ~e ~ty ~uld also r~eiv~ flx~ ~sets a~xi~tely valu~ at $536,~.~. ~e~io~ly the ~iage ~ ~y ~ers' ~iati~ has r~est~ ~e C~ty to finance their ~rt~ of ~e c~t of the li~es. S~nce that in~tial r~est, a letter has ~n r~ei~ withdrawi~ r~st for fin~ci~. {SEE A~ACH~) I f~l that ~is is a ~h~i~e proj~t for the ~ty to ~e. ~t ~ly will ~t c~ate i~ta~t reuenues, ~ ~, but eli~te a ~9~ trea~nt pl~t, ~i~ will help prese~e the int~rlty of ~le ~. ~e Cowry will r~ige fix~ a~ets of ~les an4 8 in~ se~r lines, valu~ at a~roKi~tely ~d th~ ~tential for future e~t~si~s. I therefore r~est that f~s f~ the ~rrent Districts' ~et ~ all~at~ t~ard ~is p~j~t. 2326 D~;~s~ Hi9h'~:ay · kO. ~Cx 707 · <o~co:d, NC 2~026-0707 · (7~)