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<br />Tunnel Wa1er Co. <br />January 24-25,2001, <br /> <br />Agenda /lem 10b, <br /> <br />loan worked out to 4,5% for a 30-year loan, based on CWCB rates in eHect for year 2000,) The <br />same calculation (based on year 2001 rates) is used to determine the rate for this loan: <br /> <br />Shares of the TWC are owned by two shareholders; the WSSC (300 shares) and the WRCC <br />(150 shares,) The WRCC shareholders are agricultural. However, the WSSC shares are split <br />between agricultural and municipal ownership: <br /> <br />Shareholder <br />A ricultural <br />Ft. Collins <br /> <br />Table 2: WSSC Share Ownershi and Blended Interest Rate <br />Rate Cate 0 Year 2001 Rate # Shares WSSC Rate x Shares <br />A ricultural 3,5% 291 1018,5 <br />Municipal 5,5% 26 143.5 <br />Avera e Income <br />Municipal 6% 283 1698 <br />Hi h Income <br /> <br />Thornton <br /> <br />Totals <br /> <br />600 2859.5 <br /> <br />Blended rate for WSSC <br /> <br />Blended Rate = 2859,5/600 shares 4.77% <br /> <br />Table 3 shows the blended rate for the TWC, based on a rate of 4,77% for the WSSC and a <br />rate of 3,5% for the WRCC: <br /> <br />Shareholder <br />WRCC <br />WSSC <br /> <br />Table 3: TWC Share Ownershi and Blended Interest Rate <br />Rate Cate 0 Year 2001 Rate # Shares TWC Rate x Shares <br />A ricultural 3,5% 150 525 <br />Blended 4,77% 300 1431 <br />Munici ai/A ricultural <br /> <br />Totals <br /> <br />450 <br /> <br />1956 <br /> <br />Blended rate for TWC <br /> <br />Blended Rate = 1956 / 450 shares <br /> <br />4.3% <br /> <br />(Note: The rate for the $1,6 million Emergency loan was 4,5%, When combined with the new <br />$2,08 Construction Fund loan at 4,3%, the over-all weighted loan rate for the full $3,68 million <br />loan is 4.4%.) <br /> <br />Table 4 is a summary of the financial aspects of the project. Annual assessments will increase <br />from $100 per share, up to $646 per share with the two CWeB loans totaling $3,68 million, This <br />represents an annual assessment increase of $546, or $16.28 per acre-foot, based on average <br />annual diversions 15,085 acre-feet. <br /> <br />Table 4. Financial Summar <br /> <br />Pro'ect Cost <br />Total CWCB Loans 90% of Pro'ect Cost <br />CWCB Loan Pa ment Amount, includin 10% loan reserve <br />Number of Shareholders <br />Number of Shares of Stock <br />Current Assessment er Share <br />Future Assessment er Share <br />Annual Project Cost per acre-foot <br />Avera e annual diversions: 15,085 acre-feet <br /> <br />4 <br /> <br /> <br />$4,100,00D <br />$3,680,000 <br />$245,597 <br />2 <br />450 <br />$100 <br />$646 <br />$16,28 <br />