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<br />" <br /> <br />Credit worthiness: The Town of New Castle Utility Fund has existing debt as <br />follows: <br /> <br />Remaining <br />Lender Name & Address Amount <br /> <br />Annual <br />Payment <br /> <br />Maturity <br />Date <br /> <br />Colorado Water Resources & Power Development Authority <br />Logan Tower Building, Suite 620 <br /> <br />1580 Logan Street <br /> <br />Denver, CO 80203 <br /> <br />$418,426.89 <br /> <br />$36,199.96 5/1/2019 <br /> <br />Colorado Department of Local Affairs <br /> <br />1313 Sherman Street, Room 521 <br /> <br />Denver, CO 80203 <br /> <br />$17,261.48 <br /> <br />$9,283.31 <br /> <br />9/1/2004 <br /> <br />Alternative financing considerations: <br /> <br />The Town of New Castle has investigated alternative financing sources. The Town <br />has obtained an in-kind grant from the Colorado River Water Conservation District <br />for engineering design. The Town of New Castle has obtained a grant of $200,000 <br />from the Colorado Department of Health SEP program to assist with a portion of <br />the construction costs. Long-term financing for the Town's portion of the <br />construction costs could not be financed internally with a one-time assessment. <br /> <br />Collateral: <br />As security for the loan the Town of New Castle will pledge enterprise fund <br />revenues (Utility Fund) backed by a rate covenant and annual fmancial reporting. <br />This is in compliance with CWCB Loan Policy #5 (Collateral). <br /> <br />14 <br /> <br />CFlA902 <br /> <br />