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<br />e <br /> <br />e <br /> <br />e <br /> <br />Table 3. Loveland Water Fund Financial Indicators for 1995-1997 <br /> <br /> <br />1995 <br />1996 <br />1997 <br /> <br />1.65 <br />1.88 <br />1.86 <br /> <br />$11,638,784 <br />$10,633,000 <br />$9,535,123 <br /> <br />$743 <br />$637 <br />$566 <br /> <br />1.03 <br />1.40 <br />1.42 <br /> <br />(1) Operating revenues/operating expenses <br />(2) (Total eligible revenues-operating expenses)/debt service <br /> <br />The City is seeking the difference between the estimated project cost of $20.0 million and the <br />$13.0 million to be obtained through rate increases, or roughly $7.0 million, in funding from <br />various sources including the CWCB and the Colorado Water Resources and Power <br />Development Authority. The City also has the capability to market its own bonds but is hoping <br />to obtain most of the financing from the CWCB and the Authority. <br /> <br />The City, acting by and through its water activity enterprise, is applying to the Board for an <br />additional ten-year loan of $3.0 million. If the additional $3.0 million loan is authorized, total <br />CWCB funding for this project would amount to $5.0 million, or about 25-percent of total <br />project costs. <br /> <br />e Based on median household income, the City would qualify for the Standard Municipal lending <br />rate as may be established by the Board for 1999. The ten-year loan term would reduce the 30- <br />year lending rate by one-half of one percent. <br /> <br />Discussion <br /> <br />The City staff has worked closely with the CWCB staff since 1986 in the planning effort for the <br />Green Ridge Glade project. Having reviewed all of the associated planning studies, staff finds <br />the proposed project to be economically, financially, and technically feasible. The reservoir <br />expansion will provide reliable emergency storage, allow the City to better manage its water <br />rights, and provide a high degree of drought protection. <br /> <br />The financial impact of the project on water users is expected to be negligible since a substantial <br />reserve fund will be available to offset a major portion of project costs. No additional increase in <br />water rates is contemplated at the present time. <br /> <br />The City has an accepted water conservation plan on file with the CWCB Office of Water <br />Conservation. <br /> <br />e <br /> <br />3 <br />