OCR Text |
Show Prospects Bright For Water Project Prospects are bright for the early construction of the Ephrajm, . tunnel project to bring much needed irrigation irriga-tion water to the parched fields of the valley from the other side of (he mountain, says the Ephraim Enterprise. Enter-prise. First definite word that this will in all probability be included as a part of the recovery program being sponsored by the federal government, was brought to Ephraim Monday by S. M. Nielsen of Mt. Pleasant, who is a member of the Utah Water Storage commission. He outlined the general conditions under which federal money will be advanced to build the project. The conditions include the proposition proposi-tion that work shall begin at once or as soon as necessary legal preliminaries prelim-inaries can be completed. President Andrew Hansen of the Ephraim Irrigation company, immediately imme-diately called a meeting of the board of directors for Tuesday night and all members were enthusiastic in their support of the proposition. It was reported re-ported that the money for the project is now available and will be advanced just as soon as preliminary work is completed, which will include the holding hold-ing of a stockholder meeting July twenty-fifth. A preliminary meeting, at which phases of the project will be explained, explain-ed, will be held in the public library, Saturday evening, July 15. Although the amount estimated by the engineersj.for building the project is quite generally known, it has not been released for publication pending receipt of the approved report made by the engineers to the reclamation (Continued on last page) Prospects Bright For Water Project (Continued from page 1) service. The present proposition is that the federal government will advance ad-vance all funds and will make an outright out-right donation of 30 per cent of the cost of the project. The other 70 per cent will be paid back at the rate of 4V2 per cent per year over a period of 25 years. This 4Vz per cent will take care of both interest and principal. President Andrew Hansen and Director Di-rector Joseph H. Thompson of the irrigation ir-rigation company and P. C. Peterson, who is a member of the committee chosen by the company some time ago to work for the tunnel project, went to Salt Lake Wednesday to get further fur-ther details of the proposition. They were only partly successful as some persons they wished to see were not in town while others had not then been confirmed to offices they are expected ex-pected to fill. They did, however, interview R. A. Hart,, who has been active in connection connec-tion with the public works program and who is personally well acquainted with the Ephraim project and with the great need for additional water by the farms here. They also saw Chairman Chair-man Wallace of the Utah Water Storage Stor-age commission, and these men gave the information printed above. At the rate of payment 4 y2 per cent per year on the 70 per cent of the loan the new water would cost shareholders slightly over $1.00 per acre share per year for the next 25 years. |