C150268 Feasibility Study - Laserfiche WebLink

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I I I I I I I I I I I I I I I I I I I FINANCIAL PLAN The LICRC plans to apply for a $260,782 loan from the Colorado Water Conservation Board (CWCB) small projects fund. The remainder of the project will be for with funds raised by assessments and also with cash the company has available. Based on a $260,782 loan at an interest rate of3.2% for a 30 year term, the required capital for the project during the year 2008 when the feasibility for the project is completed and the project is planned to be designed is shown in Table 6. The required capital required for the project during 2009 when the project planned to be constructed and completed is also shown in Table 6. The required 1 % loan origination fee of$2,608 is not shown in Table 6. The annual payments required to service the loan from 2010 through 2039 are also shown in Table 6 with the final payment shown as being paid from the certificate-of-deposit. TABLE 6 UIREMENT SCHEDULE 2008 2009 2010 - 2038 2039 $ 3,821 $ 25,155 $ 13,651 $34,387 $226,395 Final Pmt Made From CD The funds required will necessitate the LICRC raise assessments to provide the cash flow indicated. Revenue for operations are derived from assessments on 600 shares of outstanding stock; and, the loan repayments for Rist-Benson Reservoir rehabilitation will be made from assessment on 600 shares of stock. Assessments are presented to stockholders and approved at the annual stockholders meeting held in December of each year. The assessments have generally been $5 to $130 per share since 1998 as shown below. The assessments for the years 1999 to 2008 are summarized are shown in Table 7. Rist-Benson Feasibility Study Page 13