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1978
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1978
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CITY CLERK
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adjustr^cnt for sedim <br />is estinate_d to contain 1090600 acre -feet after ent <br />deposits. Tiris storage space is to be used to impound water for presenL- <br />and anticipated. future demand or need for municipal and industrial water <br />supply. 40 percent (an estimated 43,800 acre -feet) of the space which <br />the user has a right to utilize is for present use water atorag;e and <br />60 percent (an estimated 65,1300 acre -feet) is for future use rater s torayc_ <br />space. The space designated for present use is further designated as tvo <br />increments as follows: (1). An undivided 20 percent of the total water <br />storage space (estimated to contain 21,900 acre -feet after adjustment for <br />sediment deposits) as provided under the original terms of this. contract <br />and hereinafter referred .to as Storage Space No. 1; and (2) an undivided <br />20 percent of the total water storage space (estimated to contain 21,900 <br />acre -feet after adjustment for sediment deposits). as additional present <br />use storage space in the project,.w1th use to commence on 1 April 1978, <br />and hereby designated as Storage Space No. 2-. To the extent that the . <br />right. of diversions' are granted to the City by the Texas Water Corrmi.ssion; <br />or its. successors, the City shall'have the right to withdraw water from, <br />the lake or to ozder releases to be made by the United States through <br />the outlet works in the dam, subject to the provisions of Article le <br />and to the' extent the aforesaid . .storage space will provide." <br />ITER 2: Article 5 is deleted and the .following, substituted <br />therefore: i <br />"ARTICLE 5 - CONSIDERATION AND PAYtifsTlT. In consideration of the <br />right to utilize the aforesaid stora ,e space in the Project for <br />municipal and industrial water supply purposes, the City shall pay <br />the following sums to the Government: <br />a. Project Investrent Costs. <br />(1) The City shall repay to, the Government, at the times and <br />with interest on_ '.the unpaid balance as ,hereinafter specified, <br />which, as shown* in Exhibit "A" attached -to and rrade a part of <br />this contract, constitutes the entire amount of the .construction <br />costs, including; interest during construction,' -allocated to <br />the water supply storage rir}it acquired by the City under _ <br />this •contract. The *interest 'rate" to be used for purposes of. <br />computing: interest during; construction and interest on the <br />unpaid balance was determined by the Secretary of the <br />Treasury as of the beginning; of the fiscal year in which <br />construction of the Project was initiated, ore the basis set <br />forth in the Water Supply Act of 1958, as amended. For* the <br />*Project, this interest rate is 3.137 percent. <br />2• <br />
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