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�. <br />.., <br />Cedar Mesa Ditch and Reservoir Company Agenda Item 9b. <br />July 23-24, 2001 (Updated July 26, 2001) <br />balloon. The Bank did not offer permanent long term financing. Table 2 is a summary of <br />financing for the project: <br />(`CMDRC will cover any costs exceeding the estimated project cost.) <br />Table 3 is a summary of the financial aspects of the project. A CWCB Loan of $100,000 would <br />have an annual payment of $5,981 (including the 10% reserve requirement) at the loan terms of <br />3.5% for 30 years. This represents $6.62 per acre-foot, based on average diversions of 903 <br />acre-feet. <br />Credit worthiness: CMDRC has taken out 5 small loans over the past 30 years to help finance <br />repair and rehabilitation of the Cedar Mesa dam. Lenders inciude the First National Bank of <br />Cedaredge, the Colorado Water Conservation Board, K. Harfst (private individual), and the <br />Cedar Mesa Ditch Company. All these loans were repaid as agreed. <br />CMDRC has 2 loans outstanding, totaling $16,500, for engineering and instrumentation <br />associated with the current rehabilitation project. These loans are also being repaid as agreed. <br />Table 3 shows the Financial Ratios for CMDRC and indicates average ability to repay the <br />$100K CWCB loan with the project in place. <br />Table 2: Project Funding Sources <br />Table 3: Financial Summary <br />