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B. It is estimated that based upon the present manpower, <br />of the fire force of the City no additional firemen would be <br />required to man the proposed new fire station and its equivalent <br />or any of the additional equipment to be provided or as proposed <br />in the event of future development. No additional cost for <br />firemen's salaries would thus be incurred. <br />C. Cost of construction of a new fire station is estimated <br />at $175,000 which could be financed over a 25 year period by the <br />City. Based upon 6% interest, the amortized.cost of such construc- <br />tion would be $13,700 per annum. Funding would be available by <br />means of general obligation bond issue. <br />D. Additional fire fighting equipment would consist of one <br />engine pumper, two satellite tankers /hose tenders, two attack /grass <br />fire units at a total cost of $144,000. Cost of this equipment <br />could be financed by a lease purchase contract and such cost could . <br />be amortized over a 10 year period at 5% interest per annum at an <br />annual cost of $199600. Funding could come from revenue sharing <br />funds in the first two years and tax revenue to be collected from <br />the area thereafter. <br />SECTION 6. The Board of Safety determines that the <br />revenue to the ty to be anticipated from such annexation will be <br />derived from the following: <br />A. Property tax revenue as based upon assessed valuation of <br />$4,642,050 would produce $2339959.32 per year to be derived from <br />tax payment made annually beginning with 1975 payable 1976 taxes. <br />B. Revenue from distribution of state collected taxes from <br />motor vehicle highway tax, special $.02 motor vehicle highway tax, <br />cigarette tax to general fund and cigarette tax to cumulative <br />capital improvement fund is estimated at $21.06 per capita for a <br />total available distribution of $94,496.22. <br />C. Estimated revenue sharing distribution from the federal <br />government based upon present revenue sharing would be in the <br />amount of $68,023 per annum. <br />D. Total estimated revenue from the territory to be annexed <br />would be $396,478.54. <br />-3- <br />