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8. ~onsor Creditworthiness -The current schedule of rates is listed on the previous <br />page. Please find following, a copy of Applicant's 3 most recent audited <br />financial reports, current copies of our Income Statement and Balance Sheets, <br />and the latest earnings report from Colotrust. <br />Opinion of Feasibility Applicant has both the need for this project and the ability to <br />repay the CWCB loan. The District relies on the output of this well to supply all of our <br />raw water source during the winter, when surface water is not available, and during times <br />of drought. Applicant is in the fortunate financial position to pay at least 25% of the cost <br />of this project and we are proud that we have never missed a payment on our existing <br />debt with Rural Development (formerly Farmers Home Administration). All of the Rural <br />Development debt will retire before the CWCB loan is 15 years old, so it might actually <br />be possible to have an early payoff of this loan, assuming there would be no pre-payment <br />penalties. We know that is this is an unusual situation in that the Bureau of Land <br />Management is the owner of the water rights, but Applicant is the long-term, and so far, <br />exclusive, user of this water source. BLM officials will provide written documentation <br />that they have no problem with, and would actually support, the term of the loan being 30 <br />years. We are attempting to work together for the health and well-being of the 4000 Park <br />Center users, who will benefit from this project. <br />