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<br />Table VI-6 <br />Financial Ratios <br /> <br />Financial Ratio Without With <br /> the project The project <br />Operating Ratio (revenue/expense) 95% 106% <br />weak: less than 100% (weak) (average) <br />average: 100% - 120% <br />strong: greater than 120% <br />Debit Service Coverage Ratio No Debt 110% <br />(revenues-expenses)/debt service (strong) (average) <br />weak: less than 100% <br />average: 100% - 125% <br />strong: greater than 125% <br />Cash Reserves to Current Expense 170% 40% <br />weak: less than 50% (Strong) (weak) <br />average: 50% - 100% <br />strong: greater than 100% <br />Annual Cost per Ac-Ft (898/1241 ac-ft stored) $6.23 $20.99 <br />weak: greater than $20 (Strong) (weak) <br />average: $10 - $20 <br />strong: less than $10 <br /> <br />As security for the loan the SSRC will pledge assessment revenues backed by <br />assessment covenant and the project itself. This security is in compliance with <br />CWCB Loan Policy #5 (Collateral). <br /> <br />SRCC requests a CWCB Small Project Loan in maximum amount of $360,000 to <br />enable the South Side Reservoir Company to rehabilitate the South Side Dam. <br />The requested loan terms are 30 years at 3.1 % or 20 years at 2.9% at the SSRC <br />option. The security for the loan will be in compliance with CWCB Loan Policy #5. <br /> <br />SRCC requests the CWCB Staff recommendation that final approval of the loan <br />be conditioned upon all other standard contracting provisions of the CWCB, <br />including loan Policy #16 (Loan Service Charges). <br /> <br />G. Institutional Considerations <br /> <br />Table VI-7 presents a list of permits that may be required for the construction of this <br />project. These are considered routine for this type of construction and may be <br />obtained with little if any difficulty. <br /> <br />30 <br />