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<br />A $225,000 CWCB loan at 2.50% interest over a 30-year repayment <br />period would calculate to an annual payment of approximately <br />$10,750. The loan payment of $10,750 amounts to an additional <br />assessment of $21.50 per share or approximately $0.40 per acre <br />feet diverted. The $21.50 will be added to the existing share <br />assessment of $190.00 bring the FPCC yearly assessment to $211.50 <br />per share. This increase will stay in effect throughout the <br />duration of the loan. The increased assessment will bring in the <br />extra revenue needed to cover the CWCB payment. This financial <br />analysis should stay consistent over the period of the CWCB debt <br />retirement. <br /> <br />Collateral <br /> <br />1. The FPCC can offer as collateral the project itself, if <br />approved by a vote of the shareholders. <br /> <br />2. The FPCC can offer as collateral, one payment in a <br />certificate of deposit account, to be held by the State <br />Treasurer, if approved by vote of the shareholders. <br /> <br />Xnstitutional Considerations <br /> <br />The FPCC needs authorization to borrow $225,000 from the CWCB <br />Construction Fund. The loan, if approved, from the CWCB will be <br />contingent upon the successful negotiation of a contract between <br />the CWCB and the FPCC. Agreements with contractors will be <br />finalized upon authorization of the CWCB loan. <br /> <br />Opinion of Peasibility <br /> <br />The selected alternative is teChnically and financially feasible. <br />There are no known roadblocks which would keep the FPCC from <br />successfully completing this project. <br /> <br />Feasibility Study <br />Farmers Pawnee Canal Comp3lny <br />Flow Control Structures <br />July 2008 <br /> <br />7 <br />