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<br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />WRCC will make to the CWCB. The difference in the loan payments is the extra payment into <br />the Certificate-of-Deposit for the first to years to provide one yearly payment in reserve. <br /> <br /> <br />TABLE 5 <br />FUND REQUIREMENT SCHEDULE <br /> <br />2003 $ 30,000 $ 270,000 <br />2004 $ 45,000 $ 405,000 <br />2005 - 2014 $ 35,475 / Is+- I 0 'J \ $ <br /> I <br /> / IVoL \ , <br />2015 - 2034 $ 32,250 \ ? uf J <br /> <br />FINANCIAL PLAN <br /> <br />The WRCC proposes to apply for a $675,000 from the Colorado Water Conservation Board <br />(CWCB) for 30 years at 2.5 % interest. The remainder ofthe project cost ($75,000) and the loan <br />payments would be paid by an increase in assessments on the shares of stock. <br /> <br />Revenue for operations and payment of loans is derived from assessments on 1,000 shares of <br />outstanding stock. Assessments are presented to stockholders and approved at the annual <br />stockholders meeting held in January of each year. The Company assessments have been rising <br />over the past few years due to repairs they have been making to their system. The assessments <br />over from 1995 to 2003 are as follows. <br /> <br />I) <br /> <br /> <br />TABLE 1 <br />ASSESSMENTS FROM 1995 TO 2903 <br /> <br />x <br /> <br />1995 <br />1996 <br />1997 <br />1998 <br />1999 <br />2000 <br />2001 <br />2002 <br />2003 <br /> <br />$425 <br />$325 <br />$325 <br />$325 <br />$225 <br />$400 <br />$400 <br />$400 <br />$150 <br /> <br />$405 <br />$305 <br />$305 <br />$305 <br />$205 <br />$380 <br />$380 <br />$380 <br />$100 <br /> <br />Windsor Reservoir & Canal Feasibility Study <br /> <br />Page 9 <br />