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The Water Supply & Storage Company Agenda Item l lb January 20, 2009 (UPDATED JANUARY 28) Page 5 of 6 Project Cost Estimate Grand River Ditch Project Engineering $40,000 Construction $570,000 Subtotal $610,000 Kluwer Reservoir Outlet Project Larimer County contribution $299,000 Engineering (Company portion) $90,000 Construction (Company portion) $228,000 Subtotal 318 000 Total $1,227,000 Financial Analysis Table 1 shows a summary of the financial aspects of the loan request. The blended interest rate for the Company is based on a breakdown of ownership of 35% agricultural, 53% high income, 9% middle income, 3% low income municipal rate. The rate was determined to be 3.70% for 30 years (Per Financial Policy #7). Table 1. Financial Summary PROJECT/LOAN Grand River Ditch Project Cost $610,000 Grand River Ditch Loan (90%) $549,000 Kluwer Reservoir Outlet Total Project Cost $617,000 Kluwer Reservoir Outlet Project Cost - Com any Obli ation (a rox. 50%) $318,000 Kluwer Reservoir Outlet Project Loan (90%) $286,000 Total CWCB Loan ($549K + $286K) $835,000 CWCB Loan (Includin 1% Service Fee) $843,350 CWCB Annual Loan Pa ent $47,000 CWCB Loan Obli ation (includin 10% debt reserve fundin) $51,700 Annual Loan Payment er AF (usin SS,SOOAF) $0.85/AF Assessments Before After* Assessments er share (40,000 shares) $2,300/share $2,300/share * Assessments are projected to remain the same in 2009 (Annual Mtg 1/23/09) Creditworthiness: The Company's ownership, formed 120 years ago, is 35% agricultural and 65% municipal interests. The Company owns 2087 shares of CB-T valued at $10,000/share. The Company also owns 2/3 of the Tunnel Water Company. The Tunnel Water Company has two CWCB loans with a balance of $3.5 million amortized through 2032. The Company has one outstanding loan and one court judgment obligation listed below: Balance Annual Pmt Maturity Date First National Bank $1,000,000 **$130,000 6/2010 Federal Court Judgment/Rocky Mtn N.P. $3,000,000 $0 * * * 6/2010 * * Payment includes an interest only payment (based on Prime Rate) plus $100,000 principal payment. *** Al] $3,000,000 is due on June 2010.