Annual Costs for a $70 million Borrowing !!

If we borrowed $70,000,000 for the Master Water Plan Capital Requirements this is the repayment schedule we would have for a 20 year borrowing at the Fall 2014 lending rates of 3.50%.  http://mfa.bc.ca/long-term-lending-rates (This chart is for comparative purposes only as rate are only guaranteed for the first 10 years.)

The Annual Financing Costs would be $4,800,722.

For 2014 the revenue required from rates was $18,600,000.

Consequently the revenue required after this borrowing (if approved) would increase to  $23,400,722or a  further 25.81% rates increase. (assuming rate increase spread equally over Agricultural, Residential , Commercial and fees)
---------------
You can find the Prelim Water Rates Calculator that will show you the effect of the more than 20% increase for residential water rates in 2014 at https://docs.google.com/spreadsheet/ccc?key=0AqjuHhD4a7O5dHR2UzU5WkhaTF9HLW5FOW1wNmpDQ0E&usp=drive_web#gid=0 

You can plug in your average Quarterly usage and the calculator will show you the proposed new water rates charge effective April 1, 2014.  (Your first bill will show up in early July.)