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HomeMy WebLinkAbout20220301Application.pdfii Jon Pinardi Managing Member Teton Water and Sewer Company, LLC 3940 Grand Street Driggs, Idaho 83422 Telephone: 208-354-0256 Email : tetonws@silverstar.com IN THE MATTER OF THE APPLICATION OF TETON WATER & SEWER COMPANY FOR AUTHORITY TO INCREASE ITS RATES A}[D CHARGES FOR WATER SERVICE IN THE STATE OF IDAIIO. -.-.r-^ rt-l-r;'-'iri-:i+,iU ,1. i':,ii - I Fli l: L9 )CASE No. -l-TS-1,; - 22-oL ) ) ),j;Lrr? BEFORE THE IDAHO PUBLIC UTILITIES COMMISSION ) ) ) COMES NOW Teton Water and Sewer Company, LLC, hereinafter refened to as "Applicanf' and holder of Certificate of Public Convenience and Necessity No. 475 from the Idaho Public Utilities Commission hereby applies to the Commission for authorization to increase its rates and charges for water service. Applicant is a Limited Liability Corporation duly qualified to do business in Idaho. The Applicant currently provides water service to 302 residential and 4 commercial customers in or about the city of Victor in Teton County, Idaho, an area of very rapid growth. Attached to this Application is a current map of the service area showing the location of wells, reservoirs, transmission mains and distribution lines. Also attached is a written legal description defining the boundaries of the service area. Application is made to the Commission to authorize an increase in water rates as follows: Increase flat rate residential rates from $118.00 per quarter to $174.00 per quarter. Increase flat}" commercial rates from $244.00 per quarter to $296.00 per quarter. I Increase flat 3" commercial rates from $927.00 per quarter to $979.00 per quarter. Increase flat4" commercial rates from $l180.00 per quarter to $1232.00 per quarter Increase flat 6" commercial rates from $1770.00 per quarter to $1822.00 per quarter Applicant requests that such changes in rates and charges be effective on July l, 2022. Applicant hereby certifies that it will notifu its customers of the Application by inserting a notice in each customer's bill mailed on April 1,2022. A similar notice will be published in the Teton Valley News on April 7,2022. Copies of these notices will be provided to the Commission prior to those dates for approval. Based upon the test year ended December 31,2021, Applicant believes its proposed increase in rates and charges is justified to plan, engineer, permit, drill and construct a third well and begin the process for a fourth well for the Company's water system. The purpose for the third and fourth wells are to meet the Company's current and future service obligations and to provide system redundancy should either of the existing wells fail. This need is further described in three prior cases before the Commission including Case No. TTS-W-17-01, Case No. TTS-W- l9-01 and recently in the Applicant's Application to Authorize Debt for Purpose of Well Construction, Commission Case No. TTS-W-20-01with debt authorized in the amount of $450,000 by Order No. 34603. An additional purpose for the increase in rates is to flrnd the location and repairs of water leaks on the system. This item has been discussed with staffand is evidenced by the increasing withdrawals from the capital reserve fund for leak repairs. The increase in rates will supply a7 year re-capture of the estimated expense of the well as evidenced by the authorized loan amount, plus interest. The estimate is based on a $450,000 7-year loan at TYointerest with interest only for the 3 years and principal and interest thereafter for the remaining 4 years. Included with this Application are an original and seven copies of the Application and: Annual Report 2021 Exhibit Nos. I through 9 as follows: Exhibit No. 1, Schedule A, Plant in Service from Annual Report for Year End202l Exhibit No. 1, Schedule B, Accumulated Depreciation from Annual Report for Year End202l Exhibit No. l, Schedule C, Rate Base Summary Exhibit No. 2, Schedule A, Revenues and Expenses from Annual Report for Year End202l Exhibit No. 2, Schedule B, Income Statement from Annual Report for Year End,202l Exhibit No. 3, Cost of Capital and Rate of Return Exhibit No. 4, Revenue Requirement Exhibit No. 5, a marked up copy of Applicant's existing residential tariffshowing the proposed changes in rates and charges. Exhibit No. 6, a marked up copy of Applicant's existing commercial tariffshowing the proposed changes in rates and charges. Exhibit No. 7, a clean copy of Applicant's proposed residential tariff. Exhibit No. 8, a clean copy of Applicant's proposed commercial tariff. Exhibit No. 9, a copy of the tariff form to be used to state either existing or proposed non- recurring fees for initial hook-up and reconnection fees. Exhibit No. 10, draft copies of the customer's bill notification and the published notice. Exhibit No. I l, a current map of the water system Exhibit No. 12, a written legal description of the boundaries of the service area (Certificate of Convenience and Necessity No. 475) Also included are seven copies of the following workpapers and supplemental schedules: A monthly schedule of water pumped from each of the Company's wells. System Engineering Data from Annual Report for Year end202l, Workpapers explaining and showing the development of known changes to the test year financial data shown on Exhibit Nos. I through 4. Workpapers showing that the proposed rates will produce the revenue requirement shown on ExhibitNo. 4, Column (D),line 3. Applicant furttrer states that it stands ready for immediate consideration of this Application. Teton Water and Sewer Company respectfully requests favorable consideration of this Application. Please direct any questions or correspondence related to the Application to the Applicant as indicated on page l. Dated this 25tr day of February, 2022. Respectfully submitted, ater Sewer Company Jon Managing Member ANNUAL REPORT FOR WATER UTIUTIES TO THE IDAHO PUBUC UTILITIES COMMISSION FORTHE YEAR ENDING 2O2L COMPANY INFORMATION I Give tull name of utility 2 Date of Organlzation 3 Organized under the laws of the state of 4 Address of Principal Oflice (number & street) 5 P.O. Box (if appllcable) 6 City 7 State 8 Zip Code 9 Organization (proprietor, partnershlp, corp.) 10 Towns, Countles served Teton Water and Sewer Company, LLC 12-Apt-\2 Idaho 3940 Grand Street Drlggs Idaho 83422 LLC l1 Are there any afftliated companies? (yes or no) If yes, attach a llst wlth names, addresses &.lescrlptlons. Explaln any servlces provlded to the utlllty. l2 Contact Information Name Teton President (Owner) Vice President Secretary General Manager Complaints or Billing Engineerlng Emergency Service Accounting 13 Were any water systems acquired during the year or any additlons/deletions made to the servlce area during the year?No If yes, attach a list wlth names, addresses & descrlptlons, Explaln any serylces provlded to the utlllty. 14 Where are the Company's books and records kept? Street Address 3940 Grand Street City Drlggs State Idaho zip 83422 Phone No, Jon Pinardi 208-354-0256 TWS Annual Report to Ratc Case - 2.23.22 'l of 13 ANNUAL REPORT FOR WATER UTIUTIES TO THE IDAHO PUBUC UTILMES COMMISSION NAME: Teton Water and Sewer Company, LLC COiIPANY INFORMATION (Cont.) For the Year Ended 15 Is the system operated or malntalned under a servlce contract? Yes 16 If yes: With whom is the contract?Teton Management Servlces, Inc When does the contract expire? what servlces and rates are included? L7 Is water purchased for resale through the system? 18 If yes: Name of Organizatlon Name of owner or operator Maillng Address City State zlp 23-May-22 All Operations and Maintenance No Gallons/CCF $Amount 2021 Water Purchased 19 Has any system(s) been disapproved by the Idaho Department of Envlronmental Quallty? It yes, attach full explanation 20 Has the ldaho Department of Environmental Quality recommended any lmprovements? If yes, attach full explanatlon 2l Number of Complaints recelved durlng year concerning Quality of Servlce High Bills Disconnectlon 22 Number of Customers involuntarily disconnected 23 Date customers last received a copy of the Summary of Rules required by IDAPA 31.21.01.701? Attach a coPy of the summary 24 Did signlficant additions or retirements from the Plant Accounts occur during the year? If yes, attach full explanatlon and an updated system map No No 0 0 4lLl2O2t No TWS Annual Roport b Rata Case - 2.23.22 2ot 13 ANNUAL REPORT FOR WATER UTILMES TO THE IDAHO PUBLIC UTILITIES COMMISSION NAME: Teton Water and Sewer Company, LLC REVENUE & EXPENSE DETAIL For the Year ENded SUBACCT DESCRIPTION 2021 1 2 3 4 5 6 7 8 4OO REVENUES 460 Unmetered Water Revenue 461.1 Metered Sales - Residential 461.2 Metered Sales - Commercial, Industrial 462 Fire Protection Revenue 464 Other Water Sales Revenue 465 Irrigation Sales Revenue 466 Sales ior Resale 4oo Total Revenue (Add Llnes I - 7) (also enter result on Page 4, llne 1) + DEQ Fees Bllled separately to customers *{ Hookup or Connection Fees Collected **iCommlsslon Approved Surcharges Collected 401 OPERATING EXPENSES 601.1-6 Labor - Operation & Maintenance 601.7 Labor - Customer Accounts 601.8 Labor - Administrative & General 603 Salaries, Officers & Directors 604 Employee Pensions & Benefits 610 Purchased Water 615-rG Purchased Power & Fuel for Power 618 Chemicals 620.r-6 Materials & Supplies - Operation & Maint. 620.7-8 Materials & Supplies - Administrative & General 631-34 Contract Services - Professional 635 Contract Services - Water Testing 636 Contract Services - Other 64r-42 Rentals - Property & Eguipment 650 Transportation Expense 656-59 Insurance 660 Advertising 666 Rate Case Expense (Amortization) 66? Regulatory Comm. Exp. (Other except taxes) 670 Bad Debt Expense 67s Miscellaneous $ 148,899 $7,648 Booked to Acct # Booked to Acct # Booked to Acct # $ 156,547 475 &476 9 10 11 $ 33,604 Total Operatlng Expenses (Add llnes 12 - 32, also enter on Pg 4, llne 2) L2 13 t4 15 16 L7 l8 19 20 2L 22 23 24 25 26 27 28 29 30 31 32 33 $tt,707 $4,4t5 $ 98,040 $627 $ 78,020 $886 $ 70,677 $53 $2,665 TWS Annual R€port to Rate Cas€ - 2.23.22 $7,008 I 274,098 3 o, 13 ANNUAL REPORT FOR WATER UTIUTIES TO THE IDAHO PUBLIC UTILMES COMMISSION NAME: Teton water and Sewer Company, LLC INCOME STATEMENT FOr the YEAr ENdEd SUB ACCT DESCRIPTION 1 2 3 4 5 6 7 8 9A 9B 9C 9D 10 11 L2 13 14 15 16 t7 18 19 20 2L 22 23 24 25 26 27 28 29 30 31 32 Revenue (From Page 3, line 8) Operatlng Expenses (From Page 3, llne 33) Depreciation Expense Amortization, Utility Plant Aquisition Adl Amortization Exp. - Other Regulatory Fees (PUC) Property Taxes Payroll Taxes Other Taxes (tist) DEQ Fees Id. Dept Water Resources Federal Income Taxes State Income Taxes Provision for Deferred Income Tax - Federal Provision ior Deferred Income Tax - State Provision for Deferred Utility Income Tax Credits Investment Tax Credits - Utility Total Expenses from operatlons before lnterest (add lines 2-15) Income From Utility Plant Leased to Others Gains (Losses) From Disposition of Utility Plant Net Operatlng Income (Add llnes 1, 17 &18 less llne 16) Revenues, Merchandizing Jobbing and Contract Work Expenses, Merchandizing, Jobbing & Contracts Interest & Dividend Income Allowance for Funds used During Construction Miscellaneous Non-Utility Income Miscellaneous Non-Utility Expense Other Taxes, Non-Utility Operations Income Taxes, Non-Utility Operations Net Non-Utility Income (Add lines 20,22,23 & 24 less llnes 21,25,26, & 27) Gross Income (add lrnes 19 & 28) Interest Exp. on Long-Term Debt Other Interest Charges NET INCOME (Ltne 29 less llnes 30 & 31), (Also Enter on Pg 9, Llne 2) 403 406 407 408.10 408.11 408.12 408.13 409.r0 409.11 410.10 410.1 1 411 412 413 414 415 416 479 420 427 426 408.20 409-20 427.3 427.5 $ 274,098 $ $ 29,933 $301 $2,983 $1,168 $780 $ 156,547 202L $ (152,716) $ $ (152,716) $20,737 g (173,453) $ 309,263 TWS Annual Report to Rate Case - 2.23.22 4of13 ANNUAL REPORT FOR WATER UTILMES TO THE IDAHO PUBLIC UTILMES COMMISSION NAME: Teton Water and Sewer Company, LLC ACCOUNT 101 P!.ANT IN SERVICE DETAIL 202r Balance Beginning of Year 30 For the Year Ended Added During Year Removed During Year Balance End of Year 1 2 3 4 5 6 7 8 9 10 11 t2 13 t4 15 16 LI 18 19 20 2L 22 23 24 25 26 27 28 SUB ACCT 301 302 303 304 305 306 307 308 309 3r0 311 320 330 331 333 334 335 336 339 340 341 342 343 344 345 346 347 348 DESCRIPTION Organization Franchises and Consents Land & Land Rights Structures and Improvements Collecti ng & Impounding Reservoirs Lake, River & Other Intakes Wells Infiltration Galleries & Tunnels Supply Mains Power Generation Equipment Power Pumping Equipment Purification Systems Distribution Reservoirs & Standpipes Trans. & Distrib. Mains & Accessories Services Meters and Meter Installations Hydrants Backffow Prevention Devices Other Plant & Misc. Equipment Office Furniture and Equipment Transportation Equipment Stores Equipment Tools, Shop and Garage Equipment Laboratory Equipment Power Operated Equipment Communications Equipment Miscellaneous Equipment Other Tangible Property 3 1 29 TOTAL PI.ANT IN SERVICE (Add llnes I - 28) Enter beginning & end of year totals on Pg 7, Line I $ $ 300,000$ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 1,000$ $ $ $ $ $ $ $ $ $ $ $f 301,000$ TWS Annual Report to Rate Case - 2.23.22 5of13 ANNUAL REPORT FOR WATER UTILTTIES TO THE IDAHO PUBUC UTILITIES COMMISSION NAME: Teton Water and Sewer Company, LLC ACCU MU LATED D EPRECIATION ACCOU NT 108. 1 DETAIL 202t SUB ACCT Depreciation Rate olo For the Year Ended Balance Beginning of Year Balance End of Year Increase or 1 2 3 4 5 6 7 8 9 10 11 L2 13 t4 15 16 t7 18 19 20 2L 22 23 24 25 26 304 305 306 307 308 309 310 311 320 330 331 333 334 335 336 339 340 341 342 343 344 345 346 347 348 DESCRIPTION Structures and Improvements Collecti ng & Impounding Reservoirs Lake, River & Other Intakes Wells Infiltration Galleries & Tunnels Supply Mains Power Generation Equipment Power Pumping Equipment Purification Systems Distribution Reservoirs & Standpipes Trans. & Distrib. Mains & Accessories Services Meters and Meter Installations Hydrants Backflow Prevention Devices Other Plant & Misc. Equipment Office Furniture and Equipment Transportation Equ i pment Stores Equipment Tools, Shop and Garage Equipment Laboratory Equipment Power Operated Equipment Communications Equipment Miscellaneous Equipment Other Tangible Property TOTALS (Add Lines 1 - 25) Enter beginnlng & end of year totals on Pg 7, LineT $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 1,000$$1,000 $ $ $ $ $ $ $ $ $ $ 1.000$1.000$$ TWS Annual R€port to Rate Case - 2.23.22 6of13 ANNUAL REPORT FOR WATER UTILMES TO THE IDAHO PUBLIC UTIUTIES COMMISSION NAME: Teton Water and Sewer Company, LLC BALANCE SHEET For the Year Ended ASSETS Balance Beginning suB Accr DESCRIPTION ofYear 202t Balance End of Year Increase or 1 2 3 4 5 6 7 I 9 10 11 t2 13 L4 15 15 L7 18 19 20 2L 22 23 24 25 26 27 28 29 30 31 Utility Plant in Service (From Pg 5, Line 29) Utllity Plant Leased to Others Plant Held for Future Use Construction Work in Progress Utility Plant Aquisition Adjustment Subtotal (Add Lines 1 - 5) Accumulated Depreciation (From Pg 6, Line 26) Accum. Depr. - Utility Plant Lease to Others Accum. Depr. - Property Held for Future Use Accum. Amort. - Utility Plant in Service Accum. Amort. - Utility Plant Lease to Others Accumulated Amortization - Aquisition Adj. Net Utllity Plant lllne 6 less lines 7 - 12) Investment in Subsidiaries Other Investments Total Investments (Add lines 14 & 15) Cash Short Term Investments Accts/Notes Receivable - Customers Other Receivables Receivables from Associated Companies Materials & Supplies Inventory Prepaid Expenses Unbilled (Accrued) Utility Revenue Provision for Uncollectable Accounts Total Current (Add lines 17 - 24,less llne 25) Unamortized Debt Discount & Expense Preliminary Survey & Investigation Charges Deferred Rate Case Expenses Other Deferred Charges Total Assets (Add lines 13, 16 & 26 - 30) 101 102 103 105 114 108.1 108.2 108.3 1 10.1 1 10.2 115 131 135 141 t42 145 15r 162 173 143 181 183 184 186 30 123 125 142 L42 L42 773 37 301,000$$ $ $ $ 3,L42$$ $ 304,142 $ $1,000$ $ $ $292,498 $289,356 $ $ $ro.644 3 (289.356) $ $ $$ 8,10 1$3,838$ $ ryu 655$3,145$ $ $ $ $ $ $ 8,756$t 6,983 $ $ $ r03,813$66,t26$ 3 123.213 J (216.247) TWS Annual Report to Rate Case - 2.23.22 7ot13 ANNUAL REPORT FOR WATER UTILMES TO THE IDAHO PUBLIC UTILTTIES COMMISSION NAME: Teton Water and Sewer Company, LLC BAI.ANCE SHEET LIABILITIES & CAPITAL SUB ACCT DESCRIPTION For the Year Ended Balance Beginning of Year 667 202L Balance End of Year Increase or 1 2 3 4 5 6 7 8 9 10 11 L2 13 t4 15 16 t7 18 19 20 2r 22 23 24 25 26 27 28 29 30 31 Common Stock Preferred Stock Miscel laneous Capital Accounts Appropriated Retained Earnings Unappropriated Retained Earnings Reacquired Capital Stock Proprietary Capital Total Equity Capltal (Add Llnes 1-5+7 less llne 6) Bonds Advances from Associated Companies Other Long - Term Debt Accounts Payable Notes Payable Accounts Payable - Associated Companies Customer Deposits (Refu ndable) Accrued other Taxes Payable Accrued Income Taxes Payable Accrued Taxes - Non-Utility Accrued Debt, Interest & Dividends Payable Misc. Current & Accrued Liabilities Unamortized Debt Premium Advances for Construction Other Deferred Liabilities Accumulated Investment Tax Credits - Utility Accum. Investment Tax Credits - Non-Utility Operating Reserves Contributions in Aid of Construction Accum. Amort. of Contrib. in Aid of Const. x* Accumulated Deferred Income Taxes Total Llabilitles (Add ilnes 9 - 29) TOTAL LIABILmES & CAPITAL ( Add tines 8 & 30) i+ Only lf Commission Appioved 201-3 204-6 207-73 2t4 215 216 218 22t-2 223 224 231 232 233 235 236.11 236.t2 236.2 237-40 241 251 252 253 255.1 255.2 261-5 27r 272 281 -3 $ $ $ $ $ $ $ $$ $ $ 250,000$$(s0.000) $ $$ $ $ $ $ $ $ $ $ $ $ $ $ $898 (3.769)$ $ $ $ 3 2s0.898 (53.769)$ $ 2s0,898 s (s3,769) TWS Annual Report to Rate Case - 2.23.22 8of13 ANNUAL REPORT FOR WATER UTILMES TO THE IDAHO PUBUC UTIUTIES COMMISSION NAME: Teton Water and Sewer Company, LLC STATEMENT OF RETAINED EARNINGS FoT the YeaT ENded 1 Retained Earnings Balance @ Beginning ofYear 2 Amount Added from Current Year Income (From Pg 4, Line 32) 3 Other Credits to Account 4 Dividends Paid or Appropriated 5 Other Distributions of Retained Earnings 6 Retained Earnings Balance @ End ofYear CAPITAL STOCK DETAIL 202t 7 Description (Class, Par Value etc.) No. Shares Authorlzed Year-end Balance $ $ (173,4s3.00) $ $ 173,453.00 $ No. Shares Outstand Interest Paid Dlvldends Patd Interest Accrued Common Stock DETAIL OF LONG-TERM DEBT 8 Descri Loan #3 Well Loan #1 Totals Interest Rate $ 5.00o/o $$ 12.570.00 7.OOo/o $ 250.000.00 $ 8.157.00 $ 250.000.00 $ 20.737.00 $ TWS AnnuEl Report to Ralo Caso - 2.23.22 I ot 13 ANNUAL REPORT FOR WATER UTILMES TO THE IDAHO PUBLIC UTILITIES COMMISSION NAME: Teton Water and Sewer Company, LLC SYSTEM ENGINEERING DATA FOT thc YCAT ENdCd 1 Provide an updated system map if significant changes have been made to the system during the year 2 Water Supply Type of Treatment: (None, ChlorlneRated Capacity 202L Pum Desi nation or location Well #1 Well #2 TOTALS 3 System Storage: Des nation or Location Total Capacity 000's Gal. Water Tank (Dupllcate form and attach lf necessary. Asterlsk facllltles added thls year.) Annual ProductionFluoride Fllter etc, Watet SuPPly Sou rce (Well, Spring, Surface Constructlon (wood, Steel Usable Capacity 000's Gal. Gal Type of Reseruolr (Elevated Pressurlzed 330 Chlorine 58,861 Well L2.4tA Well70Chlorine 71.279 500 440 Elevated Steel TWS Annual Report to Rate Case - 2.23.22 10 of 13 ANNUAL REPORT FOR WATER UTILMES TO THE IDAHO PUBLIC UTILMES COMMISSION NAME: Teton Water and Sewer Company, LLC SYSTEM ENGINEERING DATA CoNtINUEd FOr thc YEAr ENdCd 4 Pump information for ALL system pumps, including wells and boosters. Rated Rated Horse power Capaclty or &of Well #1 - Goulds 7 CLC Well #2 - Goulds SRWAL *t Submlt pump curues unless previously provided or unavailable. Asterlsk facllltles added thls year. Attach addltlonal sheets lf inadequate space ls available on thls page. 5 If Wells are metered: what was the total amount pumped this year? 000's gal. what was the total amount pumped during peak month? 000's gal. What was the total amount pumped on the peak day? gal. 6 If customers are metered, what was the total amount sold in peak month? 000's gal 7 was your system designed to supply fire flows? If Yes: What is current system rating? 8 How many times were meters read this year? During which months? 9 How many additional customers could be served with no system improvements except a service line and meter? How many of those potential additlons are vacant lots? 10 Are backbone plant additions anticipated during the coming year? If Yes, attach an explanation of prolects and antlclpated costs! 11 In what year do you anticipate that the system capacity (supply, storage or distribution) will have to be expanded? 202t Dlscharge Pressure Energy used thls Year 7t 2t9 t2,o57 436,773 Yes NA 47 47 Yes Well #3 - $250k well #4 - $100k 2022 40 330 98 7.5 70 62 TWS Annual Report to Rete Case - 2.23.22 11 of 13 ANNUAL REPORT FOR WATER UTIUTIES TO THE IDAHO PUBUC UTILITIES COM]4ISSION NAME: Teton Water and Sewer Company, LLC SYSTEM ENGINEERING DATA Contlnued For the Year ENded FEET OF MAINS 1 Plpe Installed During Year CUSTOMER STATISTICS 2 Metered: 2A Resldentlal 2S Commercial 2C Industrial 3 Flat Rate: 3A Resldentlal 38 Commercial 3C Industrial 4 Prlvate Flre Protection 5 Public Fire Protectlon 6 Street Sprinkling 7 Munlcipal, Other 8 Other Water Utllities TOTALS (Add lrnes 2 through 8) 202t In Use Beginning Of Year Abandoned During Year of In Use End of Year 4" 6" 8' 15" 16" 150 150 400 400 50000 50000 5500 5600 1700 1700 Thls Year Last Year This Year Last Yesr 302 297 4 4 306 301 0 0 TWS Annual Rsport b Rate Cas€ - 2.23.22 '12 ot 13 ANNUAL REPORT FOR WATER UTITMES TO THE IDAHO PUBUC UTILMES COMMISSION CERTIFICATE State oFldahe. N\b;y) )ss County of <e+a\) ) WE, the underclg Subscribed and Sworn to Before Me tns Naay Officer) (Officer ln Charge of Accounts) ?,t of T-.c2-t\r.'l;z a utillty, on our oath do severally say that the foregolng report has been prepared under our directlon, from the origlnal books, papers and records of said utillty; that we have carefully examined same, and declare the same to be a correct statement of the business and affalrs of said utility for the period covered by the report ln respect to each and every matter and thlng therln set forth, to the best of our knowledge, information and bellef ) 22- NOTARY PUBUC My Commlssion Explres 2..14.25 IJLDI-- M My stata Expiror TWS Annual Rsport to Raie Cas€ - 2.23.22 gd ly'excel/Jnelson/anu I rpts/wtrannualrpt 13 of 13 ').,i.'l, I e nran(, r d.' rr. I rrnoro'l ; r',' ,' .'{ir.t:r: ! RATE BASE (SCHEDULE "A" ACCOUNT 101 PLANT tN SERVTCE ) Company Name:Teton Water and Sewer Company, LLC ldaho PUC Case No. Test Yr ended 2021 (A)(B)(c) Plant in Service (An Known Pro Forma ACCT #DESCRIPTION Actual Chanqes*(A+B) 1 301 Organization 000 300 450,000 450 1,000 1,000 2 302 Franchises and Consents 3 303 Land & Land Riqhts 4 304 Structures and lmprovements 5 305 Collectinq & lmpoundinq Reservoirs 6 306 Lake, River & Other lntakes 7 307 Wells 8 308 lnfiltration Galleries & Tunnels 9 309 Supply Mains 10 310 Power Generation Equipment 11 311 Power Pumping Equipment 12 320 Purification Systems 13 330 Distribution Reservoirs & Standpipes 14 331 Trans. & Distrib. Mains & Accessories 15 333 Services 16 334 Meters and Meter lnstallations 17 335 Hydrants 18 336 Backflow Prevention Devices 19 339 Other Plant & Misc. Equipment 20 340 Office Furniture and Equipment 21 341 Transportation Equipment 22 342 Stores Equipment 23 343 Tools, Shop and Garaqe Equipment 24 344 Laboratory Equipment 25 345 Power Operated Equipment 26 346 Communications Equipment 27 347 M iscellaneous Equipment 28 348 Other Tangible Property 29 TOTAL PLANT IN SERVICE 301,000 450,000 751,000 (Add lines 1-28) *Attach detailed ations and calculations sh 'NewWells in2022 the ment of each "Known to the test year data. Exhibit No. 1 Schedule A RATE BASE (SCH EDU LE'8. ACCU M U LATED DEPRECTATTON) Company Name:Teton Water and Sewer Company, LLC ldaho PUC Case Number:0 Test Year ended:2021 Accumulated Depreciation (Annual Report, pg. 6)(A)(B)(c) Known Pro Forma ACCT #DESCRIPTION Actual Changes*+ Structures and lm &tn Reservoirs River & Other lntakes Wells lnfiltration Galleries & Tunnels Mains Power Generation ent Power P Purification Distribution Reservoirs & Trans. & Distrib. Mains & Accessories Services Meters and Meter lnstallations H rants Backflow Prevention Devices Other Plant & Misc.ent 1,000 1,000 Office Furniture and u Stores Too and nt ent Power Communications ui Miscellaneous ui Other T TOTALS Lines 1 - 25 1 1 000 1 304 2 305 3 306 4 307 5 308 6 309 7 310 8 311 o 320 10 330 11 331 12 333 13 334 14 335 15 336 16 339 17 340 18 341 19 342 20 343 21 344 22 345 23 346 24 347 25 348 26 *Attach detailed explanations and calculations showing the development of each "Known Change" to the test vear data Exhibit No. 1 Schedule B RATE BASE (SCHEDULE "C'SUMMARY) Company Name:Teton Water and Sewer Company, LLC ldaho PUC Case Number:0 Test Year ended:2021 (A)(B)(c) Test Year Known Pro Forma Actual Changes*(A+B) 1 Total Plant in Service (Ex 1, Sch A, line 29)301,000 450,000 751,000 2 Accumulated Depreciation (Ex 1, Sch B, line 26)1,000 1,000 3 Net Plant in Service Line 1 less line 300,000 3,142 450,000 750,000 Add uti Plant uisition ustment**3,142 7 line 5 Add Materials &ies lnventories nual 7 line Less Accum Amortization Util Plant nual 7 line 1 Less Customer Advances for Construction nual 8, line Less Contributions in Aid of Construction nual 8, line 4 5 o 7 I I Add Working Capital (1/8 Operating Expenses)34,262 41,159 75,421 No.2, Sch B, line Add Deferred C attach 103,913 103,813 7 lines 29 & 10 11 TOTAL RATE BASE 441,217 491 ,1 59 932,376 * Attach detailed lanations and calculations *NewWell#3 Finish and Well#4 in the of each "Known to the test year data. ** Only if Commission approved Exhibit No. 1 Schedule C OPERATING RESULTS (SCHEDULE "A' REVENUES) Company Name Teton Water and Sewer Company, LLC ldaho PUC Case Number:0 Test Year ended:2021 (See Annual Report paqe 3) (A)(B)(c) Test Year Known Pro Forma Actual Chanqes*(A+B) Water Revenues: 1 Unmetered 2 Metered-Residential 148,899 7,648 236 1 135 3 Metered-Commercial & I ndustrial 7,648 4 Fire Protection Revenue 5 Other Water Sales Revenue 6 Sales Revenue 7 Sales for Resale I TotalWater Revenue lines 1 -156,547 236 1 783 I DEQ Fees billed to customers 10 Hook-u or Connection Fees collected 33,604 (13,064)540 11 Commission-a Su collected 112TOTAL REVENUE lines 8 - 11 1 90 51 12,177,323 * Attach detailed and calculations - Anticipate 1 new home for 2 quarters showi the of each "Known et'4 new at$2,182 us 4 at $2, to the test year data Exhibit No. 2 Schedule A OPERATING RESULTS (SCHEDULE "8" EXPENSES) Company Name Teton Water and Sewer Company, I ldaho PUC Case Number:0 Test Year ended:2021 Test Year Known Pro Forma See Annual Re e Actual Changes*+ 1 Labor ration & Maintenance 2 Labor-Customer Accou nts 3 Labor-Ad m inistrative & General 4 Salaries-Officers & Directors 5 E Pensions & Benefits 6 Purchased Water 7 Purchased Power & Fuel for Power 11,707 4,415 98,040 627 78,020 886 70,677 1,000 1 707 8 Chemicals 4,415 Materials & Su & Maintenance (69,074)966 10 Materials & Su min & General 627 11 Contract Services-Professional 388,275 466,295 12 Contract Services-Water T 886 13 Contract Services-Other 9,069 745 14 Rentals-& 15 53 2,665 53 16 lnsurance 2 665 17 Adverti 18 Rate Case 19 Comm Other Taxes 20 Bad Debt 21 Miscellaneous NSES 7,008 7,008 22 TOTAL OPERATING EXPENSES 27 098 329 603 367 * Attach detailed ations and calculations * Estimated power increase, see spreadsheet the d ment of each "Known Change" to the test year data. Exhibit No. 2 Schedule B opERATtNG RESULTS (SCHEDULE "C" TNCOME STATEMENT) Company Name Teton Water and Sewer Company, LLC ldaho PUC Case Number:1/0/1900 Test Year ended:2021 (A)(B)(c) Test Year Known Pro Forma Actual Chanqes"(A+B) 1 Revenue (From Ex. 2, Sch A)190,15'1 (12,828)177,323 2 (From page line 274,098 329,269 Plant -Other 29,933 301 2,983 29,933 Fees 301 Property Taxes Taxes Other Taxes DEQ Fees 1,168 780 1.168 780 Federal lncome Taxes Stale lncome Taxes Provision for Defened lncome Tax-Federal Provision for Defened lncome Tax-State Provision for Defened lncome Tax Credits lnvestment Tax Total from before interesl lines 2 - 1 309,263 329,269 638,532 lncome from Plant Leases to Others Gains ftom of Plant Net lncome lines 1, 17 &18less line 16)(119,112)(342,097)1 Revenues Jobbing & Contract Work Merchand & Contracts lnterest & Dividend lncome for funds used construction Miscellaneous lncome Miscellaneous Other lncome Taxes, Non-Utility Operations Net lncome lines 20 22,23 &24 3 4 5 6 7 I 9A 9B 9C 9D 10 't'l 12 't3 't4 15 16 17 18 19 20 21 22 23 24 25 26 27 28 less lines 21 ,25,26 &27) 29 Gross lncome lines 19 & 28)(119,112) 20,737 (342,097) (3,237)lnterest Exp. On Term Debt 17,500 Other lnterest NET INCOME 29 less lines 30 & 31 39 30 31 32 'Attach detailed and calculations the Exhibit No. 2 to the test data. of each "Known Change" lntelEst: lntercst is only on Well Loan Schedule C COST OF CAPITAL AND RATE OF RETURN Company Name Teton Water and Sewer Company, LLC ldaho PUC Case Number:0 Test Year ended:2021 (A)(B)(c)(D) Amount % of Total Cost Weighted Outstanding Outstanding of Cost (Column A/Capital (Column B X Total Line 5)Column C) 1 Common Equity (Proprietor Capital Paid ln) 2 Retained Earnings 3 TotalCommon rCa Linel+Line2 0.00%12.00o/o 7.00o/o 0.00o/o Lo Term Debt 250,000.00 250,000.00 100.00o/o 7.000/o Total 4 5 6 Weighted Cost of Capital (Rate of Return Required)7.OOo/o (Line 3 + 4) Exhibit No. 3 INCOME DEFICIENCY Company Name Teton Water and Sewer Co ldaho PUC Case Number:0 Test Year ended:2021 (A)(B)(c) Test Year Known Pro Forma Actual Chanqes (A+B) 1 Rate Base (Ex. 1, Sch C, line 1 1)441,217 491,159 932,376 2 Required Rate of Return (Ex. 3, line 7)7.OOo/o 7.00o/o 3 lncome Required (Line 1 x Line 2)30,885 65,266 4 lncome Realized (Ex.2, Sch C, line 29)(119,112\(342,097)(461,209) 5 lncome Deficiency (Line 3 less Line 4)149,997 526,475 Exhibit No. 4 Revenue Requirement and Gross Up Factor Company Name: ldaho PUG Case Number: Test Year ended 1 Rate Base 2 Required Rate of Return 3 Return on lnvestment 4 Net Operating lncome Realized 5 Net Operating lncome Deficiency 6 Net Operating Loss 7 Debt Cost on Rate base 8 Deficiency Not Subject to Gross-up Factor 9 Deficiency Subject to Tax Gross-up Factor 10 Gross-up Factor 1 1 Grossed-up Deficiency 12 Total Revenue Deficiency 13 Rate Gase Expense 14 Three Year Amortization 15 Total Revenue Deficiency 16 Test Year Revenues at Current Rates 17 TotalGross Revenue Requirement 18 Percent Revenue lncrease Gross-up Factor Calculation 18 Net Deficiency 19 PUC Fees 20 Bad Debts 21 StateTax@8o/o 22 Federal Taxable 23 Federal Tax @ 15o/o 24 NetAfterTax 25 Net to Gross Multiplier Teton Water and Sewer Company, LLC 2021 Pro Forma $932,376 7.00o/o $65,266 (461,20e) $526,475 $461,209 $65,266 $0 1.2881 $526,475 4,000 1,333 $527,809 156 783 $684,592 336.65% 100.00o/o o.22s3% 0.5000% 99.27o/o 7.94o/o 91.33% 13.7Oo/o 77.630/o 128.81o/o 0 Exhibit 5 frhibrt , Teton Springs Water & Sewer Company Sheet I Revision -- Replaces All Previous Sheets ,DAHO P{'BLIC UTILIT'ES COMMISSIOf{APPROVED EFFECTIVE JUL6- IP FE I -'09 tlrhN SECBEIAFY Rate Schedule 1 Basic Flat Rate Service - Available to all single family residential homes, multi-family building units whether the unit is residential or commercial, and commercial customers served by a 1" line, excluding all bulk water, A single family residential service is defined as a completed residential structure with service connected. A Multi-family building service is defined as a cornpleted unit ready for occupancy. Multi-family unit in this tariff refers to a unit within a multi-use building where the primary purpose of the building is residential in nature including condominiums and condo/hotels. Rate is set at $1 per quafter. il l?"1 ,D D lssued February 10, 2009 Effective February 1, 2009 lssued by Teton Springs Water & Sewer Company Jon rector f,*hibr (e Teton Springs Water & Sewer Company Sheet 2 Revision -. Replaces All Previous Sheets IDAHO P{,,BLIC UTILITIES C.3M MISSIONAPPROVED EFFECTIVE .rlJL6-'09 rEBl-'09 Rate Schedule No. 1 continued Cornmercia! Flat Rate Service for 2" line. Rate is set at Commercial Flat Rate Seruice for 3" line. Rate is set at yff.OO per quarter. g q11,Do Commercial Flat Rate Service for 4" line. Rate is set at *ryffi0 per quarter. J,l,Ab7'oo Commercial Flat Rate Service for 6" line. Rate is set at *yffiO per quarter. s tB 27'oo, Quickwater Ranch is provided metered water service at no charge in lieu of an easement for the use of its property for the storage reservoir and mainline from the resenroir to the Company's main and distribution system. lssued February 10,2009 Effective February 1, 2009 EZ*6O per quarter { zov'oo lssued by Teton Springs Water & Sewer Company Exhibit 7 Teton Springs Water & Sewer Company Rate Schedule 1 Basic Flat Rate Service - Available to all single family residential homes, multi- family building units whether the unit is residential or commercia!, and commercial customers served by a 1" line, excluding all bulk water. A single family residential service is defined as a completed residential structure with service connected. A Multi-family building service is defined as a completed unit ready for occupancy. Multi-family unit in this tariff refers to a unit within a multi-use building where the primary purpose of the building is residential in nature including condominiums and condo/hotels. Rate is set at 5174.00 per quarter. Exhibit 8 Teton Springs Water & Sewer Company Rate Schedule No. l continued Commercial Flat Rate Service for 2" line. Rate is set at 5296.00 per quarter. Commercial Flat Rate Service for 3" line. Rate is set at SgZg.OO per quarter. Commercial Flat Rate Service for 4" line. Rate is set at S1,ZSZ.OO per quarter. Commercial Flat Rate Service for 6" line. Rate is set at S1,8ZZ.OO per quarter. tvhibrr q Teton Springs Water & Sewer Company Sheet 4 Revision -- Replaces All Previous Sheets IDAHO PUBLIC UTI LITIES COMMISSIOf{APPROVED EFFECTIVE JUL6- 09 FEBT-'OS r0.SECRETARY Rate Schedule No.2 ChcFcat hP" cl Non-Recurring Fees and Charges -t lo L Hook-up fee of $600 for L" customer. Larger services would pay the $600 plus the incremental cost for the service larger than 1" service. The cost of installation, supply pipe from the Company's curb-stop to the customer and miscellaneous fittings are to be paid by the customer. 2. Bulk water service will be provided for a set-up fee of $40 plus $1.50per 1,000 gallons of water sold. 3. Reconnection charges of $20 during normal business hours and $40 for other than normal business hours if disconnected 30 days or less, or to restore service disconnected for non-payment of a delinquent bill for a period of less than 30 days. 4. Reconnection after Seasonal Disconnect charge equal to two billing quarters of the customer's applicable tariff rate. Seasonal disconnect is defined as a requested disconnect for non-maintenance reasons exceeding 30 days in duration. 5. Return check charge of $20 assessed per occurrence. 6. Field collectlon charge of $20 is assessed when payment for a delinquent bill is collected in the field to prevent disconnect. 7. Shut-off charge for maintenance at the customer's request of $20 per visit during normal business hours and $40 after normal business hours. 8. After hours service connection charge of $40 when the Company is asked to connect service after normal business hours. lssued February 10,2009 Effective February 1, 2009 lssued by Teton Springs Water & Sewer Company Jon Director { r ?, s,;,r{J !t' r,l .t..{ I ?T tttto rf rgr+r;;ri.If a.{:tt { rYrl o[+ EXHIBIT 10-A (CUSTOMER NOTTFTCATTON DRAFT) To Our Utility Customers, The goal of the Teton Water and Sewer Company (the "Company") has always been to keep our customers informed, in advance when possible, regarding items related to the Utility. Teton Springs, like Teton Valley, has experienced a rapidly increasing growth of new homes, as well as significantly greater use of existing homes, residences and commercial buildings in the last few years. With that growth, we have seen increases in both the overall demand on the water and sewer systems as well as seasonal changes and increases in repairs. In 2019, demand, specifically water demand, increased significantly over prior years. Although not entirely unexpected, the growth in demand was enough to have the Company accelerate our timeline for a few projects. Then, with the events of 2020 and2027, growth accelerated at an even more rapid rate. As many of you know, we have been planning for the drilling and addition of a new water well or wells to meet both our current and future demand as well as provide for redundancy in the event we have a failure of either of our 2 existing wells, both of which were drilled approximately 20 years ago. On February 25,2022, the Company filed an application with the ldaho Public Utilities Commission ("Commission"), Case No.requesting permission to increase its water rates for the purpose of aiding in construction of a new well or wells. The request for authority to increase its water rates is subject to public review and a Commission decision, which it may accept, modify or reject in whole or in part. A copy of the Application is on file and available for inspection at the Idaho Public Utilities Commission, I 131 I W Chinden Blvd., Boise, Idaho, and the Company's offices located at: 3940 Grand St, Driggs ldaho 83422. The Application is also available on-line at: https ://puc. idaho. gov/case/Detai ls/6449 You can also file a comment on the Application via the Commission's website at: https ://puc. idaho. gov/Form/CaseComment As always, please feel free to contact our office at any time with questions. Thank you, Jon Pinardi Teton Water and Sewer Company Office (208) 354-0256 E-Mail: tetonws@,silverstar.com EXHIBIT 10-B (PUBLTSHED NOTICE DRAFT) TETON WATER AND SEWER COMPANY, LLC., NOTICE OF FILING APPLICATION FOR AUTHORITY TO INCREASE ITS RATES AND CHARGES FOR WATER SERVICE Teton Water and Sewer Company, LLC, filed an application with the Idaho Public Utilities Commission ("Commission") on February 25,2022, Case No.requesting that the Commission grant it permission to increase its rates and charges for the purpose of construction of a new well or wells. The new well(s) would provide for a new point of diversion to obtain water already permitted to the Company under its existing water rights with the ldaho Department of Water Resources. The proposed well is necessary so that the Company can continue to provide reliable water to its current and future customers. All necessary permits required for the construction of the well are in effect from the Idaho Department of Water Resources and Idaho Department of Environmental Quality. This notice is solely for the purpose of obtaining the authorization from the Commission to increase its rates to assist with funding the construction. The request for Authority to Increase its Rates and Charges is subject to public review and a Commission decisiono which it may accept, modi$ or reject in whole or in part. A copy of the Application is on file and available for inspection at the ldaho Public Utilities Commission, 1l3l I W Chinden Blvd., Boise, Idaho, and the Company's offices located at: 3940 Grand St, Driggs Idaho 83422. The Application is also available on-line at: https ://puc. idaho.sov/case/Detai ls/6449 You can also file a comment on the Application via the Commission's website at https ://puc. idaho.gov/Form/CaseComment Additionally, you can mail comments to Idaho Public Utilities Commission P.O. Box 83720 Boise, ldaho 83720-0074; or Teton Water and Sewer Company, LLC P.O. Box 786 Driggs, Idaho 83422 In any comments filed with the Commission and also sent to the Company the Case No. of this matter, Case No Sincerely, should be included Teton Water and Sewer Company, LLC Frhi bir I I ____,::*l ffi.u.--- -#t *tr#ffi'ffiI V---------1'c' d'g.MtEENtgN 1 snottzzoula 17/6t@l scNl/l vuo ouoc3usoNludsNorfr3uffi ,=^r*o =r,alslIJOUd ? N\Nd U:U.VM I'IN8 SVI IIill Iia o =IIJ(, lrl L!. EEEgE-;*,EEH;; 1 rrr f ,1,1, { r,rJ a> ct)'@Ozzo=F<)td]odattcnooo frHF = zoa IIJ Fo= J=)i= sgz,rIFtru hgz IJJo0tF EIF ts6@ E8833=oo@6AA di666d 6EoiN d666Ntsala.. a.aa i6606@ @O@@ @aa6aa a@oo o FNN66@BB======3===^E@6666660666d222222222222: zZo I, Er r=ilig9*F ir o!u !u i! o i -y I =o.z h F F = > i i i = i x r, - BiEf f E g z zz z z zzz zz zzzz zzz zz z zz zz zzz I9.VYd P > =>> >>>= -= -=== === === = = => -===== =+4- @d }B = B66 6 da6 6 6 {i 6 6?+tsd+tsFN N Ot++666 =3 3 a===38=oo o @@@@@@@oo @ ooo@ooo dci+ i 6 n]ciddciatciFNN N O O{+1466tl= = B }BB=B==6@@ @ @ @6@0666ooa o o @ooo@qo d ddi 6 d6 o - c.i c o ci ci c,iai<i c,iui333=a3=altB=iBlB==E@EE@6@@6EE@66@6EO222222222222?22222 3oa ji6@ Hr sul orl 6i<ul odJt it bIBtsd<< !lgg* E dEEE$ _t ot EI2tol6tUIolul -2t<:rl<<o!Jtl zzzz Et <<<<g=EEE x ^uZFUuIq U od& 3 N2f E,uF = dlol2lrlUIUIrlal to 2 I $ df, 5 ooro I ii oo "-r: H5fr tg I fl iii rii __t 6 o. =F =o = +- Erhrbr+ lzq BEFORE THE IDAHO PUBLIC UTILITIES COMMISSION IN THE MATTER OF THE APPLICATION OF TETON SPRINGS WATER AIID SEWER COMPANY, LLC FOR THE ISSUANCE OF A CERTIFICATE OF CONVENIENCE AND NECESSITY, FOR APPROVAL OF'RATES AND CHARGES FOR WATER SERVICE, AND FOR APPROVAL OF RULES AND REGULATIONS GOVERNING THE RENDERING OF WATER SERVICE CASE NO. TTS.W-08-OI CERTIFICATE OF CONVENIENCE AND NECESSITY NO.475 ) ) ) ) ) ) ) ) ) IT IS HEREBY CERTIFIED that the Public Convenience and Necessity requires Teton Springs Water and Sewer Company, LLC, its successors and assigns to hold, constluct or otherwise acquire, to maintain and to operate a water system and provide a culinary water supply to the Teton Springs Golf and Casting Club planned unit development (Teton Springs Resort Community) in Teton County, Idaho. Idaho Code $$ 67-526,61-528; IDAPA 31.01.01.111. Teton Springs is located in the S % of Section 14, the N % of Section 23, the western 572 feet of S % of Section 13, the western 572 feet of N % of Section 24 and part of HES946, T3N R45E, Boise Meridian, Teton County, Idaho. See Attachment, (Application Exhibits B and C). This Cenificate is for such purpose to own, hold, construct or otherwise acquire and to maintain and operate within said tenitory water wells, reservoirs, tanks, towers, stand pipes, collectors, settling basins, galleries and other works and structures, and also to lay, take up, repair, renew, extend, alter, maintain, and operate water mains, pipes, conduits, aqueducts, hydrants and other appliances, equipment and facilities, in, upon, over, under, along, through and across all streets, avenues, alleys, streams, highways, roads, and other public places in said territory as the sarne now exists or may hereafter be extended, laid out or established, and to exercise the rights and privileges granted, or to which hereafter may be granted Teton Springs Water and Sewer Company, LLC, its successors or assigns, by any franchise conferred by the State of Idaho or any political subdivision thereof. This Certificate is predicated upon and issued pursuant to the findings and conclusions of Order No. 30571 in Case No. TTS-W-08-01 to which reference is hereby made. CERTIFICATE OF CONVENIENCE AND NECESSITY NO. 475 E"hi h+I:b BEGINNING AT THE WEST QUARTER CORNER OF SECTION 23, TOWNSHIP 3 NORTH, RANGE 45 EAST OF THE BOISE MERIDIAN, TETON COUNTY, IDAHO; THENCE N OOOOO'17" E ALONG THE WEST LINE OF SAID SECTION 23 A DISTANCE OF 2642.34 FEET TO THE NW CORNER OF SAID SECTION 23; THENCE N OOOOO'7" E A.LONG THE WEST LINE OF SECTION 14 A DISTANCE OF 2642j9 FEET TO THE NW CORNER OF THE S % OF SAID SECTION 14; THENCE S 89o39'34" E ALONG THF NORTH LINE OF THE S 7z OF SAID SECTION 14 A DISTANCE OF 5277.41FEET TO THE NE CORNER OF SAID S % OF SECTION i4; THENCE S 89o43'54" E ALONG THE NORTH LINE OF THE S % OF SECTION 13 A DISTANCE OF 572.23 FEET; THENCE S 00o01'09" E A DISTANCE OF 6180.11 FEET THENCE ALONG THE BOI.]NDARY OF THE HOMESTEA.D ENTRY SURVEY NO. 386 FORM E FOLLOWING TWO COURSES: 1.) N 82"37'50"W A DISTANCE OF 4623.31 FEET; 2.) N 0033',27" E A DISTANCE OF 330.00 FEET; THENCE N 89O43'39': W ALONG THE SOIITH SIDE LINE OF THE N % OF SAID SECTION 23 A DISTANCE OF I27O.O2 FEET TO THE POINT OF BEGINNING CONTAINING 774. 1 7 ACRES ATTACHMENT Case No' TTS-W'08'01 Certificate No.475 Page I of 3 Exutslr B PAGE I oF 1 qi fi"; ,i,.rr.j i:,i .url tl a Erhi br+ I: c. o 6o o :TE,:TON SPR. INGS GOLF AND CASTING CLUB PHASE I art I tGt I -t I Il- t i 1., I'i I I l I MASrn ?l.^N Itocr MAP li t I I all ?.I lrt Gase No. TTS-W-08-01 Certificate No. 475 Page 3 of 3__ ExHsrr C PAGE 2 or 2 I t fhr -$o:f ir{ff:.,;