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<br />. . <br /> <br />West Rhone Lateral Ditch Co. <br />November 20-21, 2000 <br /> <br />.nda Item 15b. <br />dated November 22, 2000) <br /> <br />. <br /> <br /> Table 1: Proiect Fundina Sources <br /> Construction Phase <br /> Fundina Source Grant Loan <br />NRCS Planninq and Desion $10,935 <br />CWCS Loan $100,000 <br />West Rhone Lateral Ditch Co. $ 583 <br />Total ($111,518) $11,518 $100,000 <br /> Permanent Financing Phase <br />NRCS Plan nino and Desion $10,935 <br />NRCS Construction Cost share $27,000 <br />CWCS Loan . $73,583 <br />Total ($111,518) $37,935 $73,583 <br /> <br />If lhe WRLDC is successful in obtaining a grant from the CRWCD, those funds will be used to <br />reduce the CWCS loan amount to approximately $60,000. <br /> <br />Table 2 is a summary of the financial aspects of the project Annual assessments of $31.25 <br />would be needed to repay a CWCS Loan of $100,000. (The annual payment plus 10% reserve <br />requirement is $5,981.) This represents $14.79 per acre-foot, based on average annual <br />diversions of 541 acre-feet (Note: When the WRLDC completes the project and receives the <br />$27,000 NRCS grant, the CWCS loan payment will reduce to $4001 and the needed <br />assessment to $20.20.) <br /> <br />Proiect Cost $111,518 <br />Number of Shareholders 14 <br />Number of Shares of Stock 130 <br />Construction Phase <br />CWCS Loan Amounl $100,000 <br />CWCS Loan Pavment (includes 10% reserve) $5,981 <br />Added Assessment oer share $31 <br />Annual Loan Cost oer acre-foot (Averaqe diversions: 541 acre-feet/vr) $11.06 <br />Permanent Fmancinq Phase <br />CWCB Loan Amount $73,000 <br />CWCB Loan Pavment (includes 10% reserve) $4,001 <br />Added Assessment oer share $20 <br />Annual Loan Cost per acre-foot (Averaae diversions: 541 acre-feet/vr) $7.40 <br /> <br />Table 2. Financial Summary <br /> <br />Credit worthiness: WRLDC has no existing debt Table 3 shows the Financial Ratios for the <br />. WRLDC and indicates, with the exception of cash reserves, average ability to repay the $100K <br />construclion loan with the project in place. <br /> <br />3 <br />