Orange County NC Website
required to retire the loan secured from the Farmers Home <br /> Administration. The following costs must be accounted for <br /> Treatment Cost - $1.16/1000 gallons of wastewater <br /> treated; includes $0.05/1000 <br /> gallons blanket tap fee <br /> Billing Charges - approximately $100/month <br /> Electricity - $3800/year to operate two pumping <br /> stations plus individual house <br /> pumps <br /> Maintenance and Repair - $5000/year paid to a reserve fund <br /> to provide for maintenance <br /> expenses <br /> Debt Service - to retire the loan(s) from FrnHA. <br /> The current loan amount of <br /> $200,000 is repayable over <br /> 38 years at 7.75 percent interest. <br /> Any additional FmHA loans would <br /> be subject to market interest <br /> rates which are currently 9.5 <br /> percent. <br /> We recommend that the County adopt a user charge system that <br /> subdivides the above cost into "fixed" and "variable" components <br /> with factors to reflect the hydraulic capacity dedicated to large <br /> 15 <br /> • <br />