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Show ONE HUNDRED YEARS OF WATER DEVELOPMENT 59 lamation projects at all had gone far enough, and that the Salt Lake City area might count itself sufficiently fortunate in obtaining the water supply the acquisition of which was to be financed by the federal government on terms which permitted repayment of costs over a period of 40 years without any interest payment. But as to an aqueduct - that was thought of as something quite different. As the Chief Engineer of the Bureau of Reclamation at one time put it, " We are building no aqueducts for cities." The City of Los Angeles, it was many times pointed out, was constructing an aqueduct at a cost of many millions of dollars raised by a bond issue, on which the interest charges were between four and five per cent, and there was no reason, so it was said, why the city of Salt Lake City could not finance an aqueduct on the same terms. The 1928- 29 Water Advisory Board report discussed the possibility and the expense of constructing a conduit from the Deer Creek reservoir to Salt Lake Valley, and it assumed that it would have to be paid for in its entirety by the municipality. The " Bur- dick Report" had advised participation 70. Graphic comparison of financing costs of major projects. Because no interest is charged, the Provo River Project costs are substantially smaller than of any other. This chart was originally published in the news columns of The Salt Lake Tribune. BASE COST AND INTEREST... Base and Total 7jxF\ $ 18 7 - PROVO RIVER WITHOUT INTEREST Base Cost US1 I Interest * I53 PROVO RIVER WITH INTEREST Base Cost * M0 Interest *( I5 OWENS RIVER AQUEDUCT ( LosAH^ clts) \ BaseCost U62 Interest * I33 DELAWARE AQUEDUCT ( NetvYork City) Base Cost * 205 Interest M68 LOS ANGELES AQUEDUCT Base Cost * 250 Interest * 205 MOFFAT TUNNEL ( D* werJ XBase Cost * 285 HETCH- HETCHY ( San Francisco) Interest * 233 1 TOTAL 340 255 295 373 455 518 Comparison oi the per acre foot cost of water from the Deer creek reservoir, delivered to the city, with costs of water from other major projects. The first bar represents the cost under the mteresi- free financing plan which is now available. The second represents what the cost would be ir interest were charged. The others represent per acre foot costs in major projects of other cities. A financing plan of 40 years to repay with 4 per cent interest is assumed for the interest financed projects. |