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Current financial picture as result of lawsuit <br /> costs, capital costs, and no new revenue <br /> streams. <br /> Lawsuit costs Future costs <br /> Lawyers Fees $330,000 Soil $ 45,000 x 5 years <br /> Settlement (120,000) Bridge 40,000 <br /> Equipment 110,000 Pump 35,000 <br /> Labor 50,000 $300,000 <br /> Material 35,000 <br /> $405,000 <br /> Comments: The costs of the lawsuit has been paid to date out of the <br /> Bond reserve fund. We are currently at a deficit of$145,000. <br /> One result of this is we have lost interest income from the <br /> bond reserve and any contingency fund we should have, in <br /> the amount of 25,000+ per year. <br /> The last financial projection done (see attachment) was given <br /> out in Oct. of 1998. This clearly demonstrated the need for <br /> either new revenue sources or an influx of cash from some <br /> source. <br /> There are also projections that have been given out that <br /> show for each 5% below projections are revenues are over <br /> the life of the bond, the debt will increase by $500,000. <br /> ***Dollar amounts have been rounded of and in some cases estimated by <br /> using most current data. <br />