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<br />will apply for a loan amount of $3,937,500 with a 20 year repayment period and
<br />an interest rate of 4.05% for the L TWD and 4.15% for the CWCWD. The
<br />remainder of the project cost of $2,625,000, which is 25% of the total cost, will be
<br />funded by the two Districts on an equal basis. Each District will have to provide
<br />$1,312,500 for its 25% share of the project cost which will be disbursed in 2003,
<br />2004, and 2005 during design and construction.
<br />
<br />Table 3 provides a summary of the project costs, loan amounts, loan payments,
<br />and cost per unit of water. The cost per unit of water delivered and the cost per
<br />water tap is well within reasonable limits with regard to water rates and the cost
<br />of water. The Districts could not purchase additional water rights or water
<br />storage for the cost of approximately $2,700 per acre-foot as shown in Table 3.
<br />The purchase of additional stored water would be in the range of $8,000 to
<br />$10,000 per acre.;foot.
<br />
<br />TABLE 3
<br />FINANCIAL SUMMARY
<br />
<br /> LTWD CWCWD
<br />Estimated Project Cost $ 5,250,000 $ 5,250,000
<br />.
<br />CWCB Loan Amount $ 3,937,500 $ 3,937,500
<br />25% Share of the Project For Each District $ 1,312,500 $1,312,500
<br />Total Project Cost .(Including Interest) $ 7,132,741 $ 7,184,301
<br />CWCB Loan Payment $ 291,012 $ 293,590
<br />Number of Water Taps 7,642 9,500
<br />Water Demand in Acre-Feet (2001) 5,100 5,345
<br />Monthly Cost Per Water Tap For Loan Repayment $ 3.17 $ 2.58
<br />Cost Per Acre-feet of Storage (2600 Ac-Ft Ea. Entity) $ 2,743 $ 2,763
<br />Annual Loan Cost Per Acre-Feet of Storage $ 112 $ 113
<br />Annual Loan Cost Per Acre-feet of Demand $ 57 $ 55
<br />
<br />Note that the totals provided in Table 3 do not include the 10% reserve (for a total of one
<br />payment) required by the CWCB to be placed in a Certificate of Deposit. This reserve is used to
<br />make the final paymeht and does not change the overall cost of the project.
<br />
<br />L TWD FINANCIAL PLAN
<br />
<br />Based on their 2001 financial statements, the L TWD had total operating
<br />revenues of $2,721,276 with operating expenses of $3,090,346 for a net loss of
<br />$369,070. The financial statement lists current assets of $1 ,728,574, total assets
<br />of $55,657,929, and retained earnings of $5,215,107.
<br />
<br />Dry Creek Reservoir Feasibility Study
<br />
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