Laserfiche WebLink
<br /> The remaining 26% of the shares are owned by the City of Loveland, which has a <br /> Median Household Income close to the statewide average. The CWCB Municipal <br /> Average Income loan rate would apply to these shares. The blended rate for a <br />I loan to the SSRC is calculated as follows: <br />I <br /> Table VI-4 <br /> SSRC Share Ownership and Blended Interest Rate <br /> Shareholder Rate Category Year 2002 Rate % Shares Rate x %Shares <br /> F armers/Ranchers Agricultural 2.75% 74 2.035 <br /> Loveland, City Municipal 4.25% 26 1.105 <br /> Average income <br /> Totals 100 3.14 <br /> Blended rate for SSDC 3.1% <br /> (Rounded down to <br /> nearest .1 %) <br /> Table VI-5 is a summary of the financial aspects of the project with a $360,000 <br /> CWCB Loan. The annual payment would be $20,466 (including the 10% reserve <br /> requirement) at the loan terms of 3.1 % for 30 years. This represents $16.49 per <br /> acre-foot, based on total annual storage (fill and refill) of 1,241 acre-feet. <br /> Table VI-5 <br /> Financial Summary <br /> Project Cost $400,000 <br /> Number of Shareholders 90 <br /> Number of Shares of Stock 265 <br /> CWCB Loan Amount $360,000 <br /> CWCB Loan Payment (includes 10% reserve) $20,466 <br /> Current assessment per share $20 <br /> New assessment per share $97 <br /> Annual Loan Cost per acre-foot (Total annual storage 1241 ac-ft.) $16.49 <br /> Credit worthiness: The SSRC has no existing debt. Table VI-6 shows the <br /> Financial Ratios for the SSRC and indicates 2 ratios in the average category and <br /> 2 in the weak category with the $360,000 CWCB loan in place. <br /> 29 <br />