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include any potential regional grant funding opportunities which might be <br />available for construction of this facility. <br />2. The 1.5 MG ground storage reservoir will be financed through bonding in <br />conjunction with the surface water treatment facility. <br />3. NE and NW Extension project and the Industry Avenue to TH 47 project will be <br />financed through bonding. <br />4. All other capital projects will be financed through annual revenue and water <br />utility fund cash reserves. <br />Based on these assumptions, a 15 -year budget projection has been developed. <br />Appendix F contains a spreadsheet with the budget projections. Key points are <br />summarized as follows: <br />1. Current water use rates are set at $1.61 per 1,000 gallons used, with a quarterly <br />minimum charge of $24.15. <br />2. Current Water Access Charges are $1,327/connection. <br />3. Water Use Rates will need to be increased by 5% annually for the next 3 years <br />(2005-2007). Subsequent increases are projected every 4 years. <br />4. Water Access Charges will need to be increased to $2,325 per connection. <br />Subsequent increases are projected every 5 years. <br />City of Ramsey, Minnesota — M21.34343 Page ES -9 <br />Water System Study Prepared by Bolton & Menk, Inc. <br />