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LPPD000371
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LPPD000371
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Last modified
7/22/2011 3:44:08 PM
Creation date
3/26/2007 10:31:21 PM
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Loan Projects
Contract/PO #
C150114
Contractor Name
Loma Ditch and Lateral Company, The
Contract Type
Loan
Water District
72
County
Mesa
Bill Number
MC3
Loan Projects - Doc Type
Feasibility Study
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<br />*When construction is complete, the LD&LC will receive $75,041 in NRCS cost shares. <br />These funds will be used to help pay construction costs. <br /> <br />Alternative Financin2 Sources <br /> <br />The LD&LC actively sought NRCS financing. NRCS has provided a grant of $25,000 <br />for planning and design and $75,041 for construction cost share. <br /> <br />Table 2 is a summary ofthe financial aspects ofthe project. A CWCB loan of$178,000 <br />would have an annual payment of$9,669 (which includes the 10% reserve requirement) <br />at the loan terms of2.75% (or less) for 30 years. This represents $2.76 per acre-foot, <br />based on average annual diversions of about 3505 acre-feet. <br /> <br />a e. IDanCIa ummary <br />Project Cost $278,041 <br />Number of Shareholders 81 <br />Number of Shares of Stock 790 <br />CWCB Loan Amount $178,000 <br />CWCB Loan Payment (includes reserve) $9,669 <br />Current Assessment per share $10 <br />New Assessments per share $13 <br />Annual Loan Cost per acre-foot $2.76 <br /> <br />T bl 2 F. . I S <br /> <br />Credit Worthiness <br /> <br />The LD&LC currently has a debt in the amount of $4,300 remaining from construction of <br />a portion (referred to as the north spur) ofthe Ditch & Lateral completed in May 2002. <br />It is expected that this will be paid off by December 31, 2002, as the Company has the <br />authority to sell the stock of delinquent shareholders who have not paid assessments by <br />December 1. <br /> <br />Page 4 <br /> <br />J <br />
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