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WATER PROJECT CONSTRUCTION LOAN PROGRAM <br />LOAN REPAYMENT DELINQUENCY REPORT <br />LOAN FINANCIAL ACTIVITY REPORT <br />ATTACHMENT lld-02, NOVEMBER 2008 <br />LOAN REPAYMENT DELINQUENCY <br />Loan Repayments received relative to the Water Project Construction Loan Program have been reviewed <br />for the period covering July 2008 through October 2008. The effective due date of the payment is <br />inclusive of the Board's current 30 day late policy. Hence, the date the payment was received was <br />compared to the last day allowable prior to the payment being considered late. <br />Repayments due for the first four months of Fiscal Year 2009 totaled 106. There were eight loan <br />payments not received on time during this period. Two loan payments from the Excelsior Irrigating <br />Company, the loan payments from the Appleton Northwest Lateral (ML369) and Drainage Company and <br />the Spring Dale Ditch Company were less than 30 days late. The loan payments from the Ogilvy <br />Irrigating and Land Company and the Hawkeye Lateral Ditch Company were less than 60 days late. The <br />loan payment from the Lower Arkansas Water Management Association was over 90 days late. The loan <br />payment from Rodney Preisser due October 2008 has not been received to date. Thus, the on-time <br />performance for the total repayments due was 92% in compliance or 8% not incompliance. <br />As additional notes: (1) the payment from Rodney Preisser due October 2007 has not been received to <br />date; and (2) the Town of Starkville has not met its obligations since Fiscal Year 2006. <br />LOAN FINANCIAL ACTIVITY <br />Loan Financial Activity relative to the Water Project Construction Loan Program for Fiscal Year 2009 is <br />detailed on the following attachment. Funds received relative to loans in repayment totaled $6.8 M for <br />this period. Funds disbursed relative to new project loans totaled $5.9 M for this period. Net activity <br />resulted in $0.9 M received to the CWCB Construction Fund and the Severance Tax Trust Fund Perpetual <br />Base Account (STTFPBA) over the total disbursed. <br />Further breakdown is summarized as follows: The Construction Fund portion consists of $3.7 M in <br />receivables and $3.3 M in disbursements for a total net activity of $0.4 M received over disbursed. The <br />STTFPBA consists of $3.1 M in receivables and $2.6 M in disbursements for a total net activity of $0.5 <br />M received over disbursed. <br />