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Griffiths: <br /> <br />allow you to reduce the payments for <br />water in the early years so that you <br />could invest more in pipeline <br />capacity. <br /> <br />If the Council went with the <br />alternate proposal of committing <br />only to $900,000.00 and not the <br />entire construction costs of $3.5 <br />million, would all of that amount be <br />payable in 19937 <br /> <br />Dreher: Yes. <br /> <br />Schimmin reviewed the draft agreement. <br /> <br />Lathrop: <br /> <br />Schimmin: <br /> <br />If the bids come in substantially <br />higher than estimated, what happens <br />to our $600,000.00? <br /> <br />If you withdrew from the project, <br />your $600,000.00 would remain with <br />the District to offset the increased <br />cost to Broomfield or be used, if <br />there was any left over, to purchase <br />whatever capacity that there was <br />funds to purchase at the cost that <br />the project came in at, assuming the <br />project does go forward. If project <br />costs come in significantly above <br />the estimates, it's likely that this <br />whole agreement will have to be <br />revisited, because then Broomfield <br />may not be able to meet the terms of <br />its contract for $18.4 million. If <br />the whole project terminates, <br />because of those high costs, then <br />Louisville would get the $600,000.00 <br />back. The only way you'll lose the <br />$600,000.00 is if the project does <br />go forward, but you've chosen not to <br />participate in the construction <br />phase, which is true in either of <br />the alternatives. <br /> <br />Lathrop: <br /> <br />What is Broomfield's alternative if <br />the bids come in substantially <br />higher? <br /> <br />Dreher: <br /> <br />The only alternative that they would <br />have would be build the pipeline on <br />their own, which is unlikely that <br /> <br />9 <br /> <br /> <br />