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Supply Irrigating Ditch Company - Knouth Reservoir March 11, 2D08 Page 4 of 5 Agenda Item 18c Using 323.5 agricultural owners, 60 municipal owners, and 16.5 commercial owners, the blended interest rate becomes 2.60%. Table 1. Financial Summary PROJECT/LOAN Total Project Cost $995,000 CWCB Loan $896,000 CWCB Loan (Includin 1% Service Fee) $904,960 CWCB Annual Loan Payment $43,800 CWCB Loan Obli ation (includin 10% debt reserve fundin) $48,200 Number of Shares 400 Annual Cost Per Share for Loan $120 Previous Assessment er Share $140 New Assessment er Share $260 Cost of Project per acre-foot stored (220 AF) $4,500 Creditworthiness: The Company's assessments will be increased by $120/share to cover the debt service associated with the CWCB loan. The increase was approved on January 11, 2008, by a resolution of the stockholders. The Company has no current debt. Table 2 shows the Financial Ratios for the Company's revenues. Table 2. Financial Ratios Current Futut•e Financial Ratio w/out Project w/ Project Operating Ratio (revenues/expenses) 132% 122% weak: X100% - avera e: 100%- 120% - stron : >120°/ (Strong) $135K/$102K (Strong) $183K/$150K 167% Debt Service Coverage Ratio N/A (Strong) (revenues-expenses)/debt service (No current ($183K- weak: Q00% - average: 100%- 120% - strong: >120°/ debt) $102)/ $48K Cash Reserves to Current Expenses 28% 19% weak: X50% - avera e: 50% - 100% - stron : >100°/ (Weak) (Weak) $28K/$102K $28K/$150K Annual Operating Cost per Acre-Foot (based on 4,800AF) $21 $31 eak: >$20 - avera e: $10 - $20 - stron : <$10 (Weak) (Weak) $102K/48K $150K/48K Collateral: Security for the CWCB loan shall include a pledge of the Company's assessment revenues. The pledge shall be backed by a rate covenant. This security is in compliance with CWCB Financial Policy #5 (Collateral).