Laserfiche WebLink
<br />. <br /> <br />MEMO <br /> <br />DATE: SEPTEMBER 20, 2000 <br /> <br />TO: CRAIG HOUDESHELL, EDRC <br /> <br />FROM: MIKE CUMMINS, FINANCE DIRECTOR - TOWN OF WELLINGTON <br /> <br />RE: QUESTIONS REGARDING LONG TERM LIABILITIES & INDEBTEDNESS <br /> <br />Here are the answers to questions 1 and 2 of the fax we received from your <br />office on September 19, 2000: <br /> <br />1. OUTSTANDING LONG TERM LIABILITIES AND INDEBTEDNESS <br /> <br />General Obligation Bonds <br />ITEM ORIGINAL BAL. RETIREMENTS 12/31/99 BAL. <br />1984 Water Treatment Plant $500,000.00 $94,000.00 $406,000.00 <br />Beg. - 1/1984, End -12/2023 <br />GMAC = PAYING AGENT <br />Loans <br />1982 Water Treatment Plant $1,140,000.00 $261,842.00 $878,158.00 <br />Beg. - 12/1984, End - 12/2023 <br />CWCB LOAN <br />1990 Waste Water Treatment Plant $375,000.00 $161,076.00 $213,924.00 <br />Beg. - 5/1990, End - 9/2010 <br />COLORADO WATER RESOURCES & POWER <br />DEVELOPMENT AUTHORITY LOAN <br />TOTAL $2,015,000.00 $516,918.00 $1,498,082.00 <br /> <br />Please note that in addition to the above mentioned formal repayment obligations, our auditor has listed <br />accrued compensated absences in this category as well in the amount of $13,131.00 @ 12/31/99. <br /> <br />2. ARE ANY OF THE AFOREMENTIONED LIABILITIES IN DEFAULT? <br /> <br />To the best of my knowledge, none of the aforementioned liabilities are in default, nor have they ever been. <br />Additionally, as nearly as I am aware, there have been no missed/late payments. Be advised that my <br />tenure here started April 1, 1998. <br /> <br />I have enclosed copies of the amortization schedules for the aforementioned liabilities. I have also <br />enclosed a copy of our 1999 audit. Should you need any further information, I will gladly provide it. <br /> <br />Sincerely, <br /> <br />~/~ <br /> <br />Mike Cummins, Finance Director <br />