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<br />. <br /> <br />. <br /> <br />. <br /> <br />See the enclOsed Pinewood Springs Water Distrid Drought Mitigation Project Budget for an <br />explanation of the sources of funding and financial summary. <br />The loans will be repaid by a "Repayment Pledge'" of tax levies on all taxable property within the <br />District's boundaries. <br /> <br />See enclosed Pinewood Springs Water District Cash Flow Projection for further financial <br />information. <br /> <br />Credit worthiness <br />The PSWO's credit rating on the last bond issue: AAA insured (per Helen Cregger ) Year: 1998 <br />Rated by: Moody's <br /> <br />DEBT TABLE <br /> <br />Current Interest Description Security ~ <br />Outstanding Rate Pledge! Relationship <br /> Revenue toPro.posed <br /> Source 1Q!m <br />$360.000 4.25 to Bonds for capital project. storage tank Prooerty taxes Senior <br /> 5.8% installation (998) <br /> var <br />$6.904 5% Loan from Colorado Division of Local Affirirs General Funds Senior <br /> fixed for the Water Treatment Proiect (1992) <br /> <br />Alternative financing considerations: The PSWD has investigated alternative financing <br />sources. In addition to the CWCB and DWRF loan applications, we are also filing with the <br />USDA Rural Development for possible grants and loans if necessary. <br /> <br />Collateral: As security for the ewCB loan the PSWD can pledge tax income, and the project <br />itself. <br /> <br />Economic Analysis <br /> <br />The economic benefit of the project is will ensure an adequate and safe drinking water supply <br />while reducing the water cost to current and future customers. <br /> <br />Social and Physical Impacts <br /> <br />The projed will have no significant social impacts, since it will assure the continued operation of <br />a currently existing potable water system. The project will have minor physical impacts, once <br />construction is complete. <br />