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PROJC01798 (2)
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PROJC01798 (2)
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Last modified
10/4/2011 2:47:56 PM
Creation date
7/9/2008 9:29:10 AM
Metadata
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Template:
Loan Projects
Contract/PO #
C150265
Contractor Name
Supply Irrigating Ditch Company
Contract Type
Loan
Water District
0
County
Boulder
Loan Projects - Doc Type
Feasibility Study
Supplemental fields
Water Division
1
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~ SECTIONFIVE Selection of Alternawe and Financial Plan <br />~ Revenue for operations and payment of loans was derived from assessments on 400 shares of <br />outstanding stock. The assessments for 2007 were $ I40 per share. The assessment per share, for <br />~ the new 1oan, will range from $138 for the first year of the loan down to $120 for the eleven year <br />of the loan then remaining at this level for the term of the loan. The change in the assessment is <br />~ due to the loan reserve fund required by CWCB. The new assessment includes the cost for the <br />loan and the CWCB 1% loan service fee, but also and an estimated annual operating expense for <br />~ the reservoir facility. The annual operating expense is estimated at 0.5% of estirnated first year <br />cost of $2,500. The new assessment also includes a credit back from the interested on the loan <br />~ reserve fund at a rate of 6% annually. The total annual assessment including the new loan will <br />range from $278 for the first year of the loan to $260 for the eleven year of the loan then <br />~ remaining at this level for the term of the loan. Table 5-3 presents the schedule of revenue and <br />expenditures assuming a 30-year loan at a blended interest rate of 2.60%. <br />5.5.1 Collateral <br />SIDC can offer the following collateral for the CWCB loan. <br />~ 1. The revenue from assessments as allowed by the Company By-Laws and Articles of <br />Incorporation; <br />, 2. A certificate of deposit account in the amount of one annual payment to be held by the State <br />Treasurer; and <br />~ 3. Assignmen# of the water right for Knouth Reservoir to the CWCB. <br />~ 5.6 INSTITUTIONAL CONSIDERATIONS <br />~ 5.6.1 Sociai, Economic, and Physical Impacts <br />~ The project will have no social innpacts since its use as an irrigation facility will remain the same. <br />The project will have a positive economic impact by assisting SIDC to more efficiently provide <br />~ irrigation water to over 8,500 acres of irrigated farm land. The project will have no significant <br />physical impacts except in the immediate vicinity of the construction. These impacts will be <br />~ minor in nature and will affect an area of less than 35 acres. <br />r ~~ 5-3 <br />
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