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TABLE IV <br /> <br />INDUSTRIAL SERVICE AREA WATER TRUNK & SOURCE FACILITIES <br /> <br /> FINANCING SUMMARY <br /> <br /> Estimated Water Facilities Cost $462,000 <br /> Total Assessable R.E.C.'s 1,271.80 <br /> R.E.C. Charge * 885.87 <br /> <br /> Assessed Cost (1271.8 x <br /> $885.87) = $1,126,649.47 <br /> <br /> Revenue to be Applied Towards Future <br /> Storage Facilities $664,649.47 <br /> <br /> · This charge represents the total cost to be assessed <br /> for trunk source and storage. <br /> <br />VII. <br /> <br />FINANCING StIMMARY <br /> <br />Based on the City's proposed assessment ordinance, it is recom- <br />mended that a ten (10) year assessment period be used. The <br />interest would be one and one-half percent (1.5%) greater than <br />the rate of interest on the bonds. <br /> <br />The following table shows the annual assessed costs for sani- <br />tary sewer and water service on a one acre commercial lot ammor- <br />tized over 10 years at nine (9%) percent interest: <br /> <br />13 <br /> <br /> <br />