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South Metro Water Supply Authority March 10, 2009 (UPDATED March 18, 2009) Page 6 of 8 Table 3. Borrower Summary Agenda Item 14b Member Firm Capacity Variable Capacity Cost (MGD) (MGD) Arapahoe County Water and Wastewater 0 3.5 $2.6M Authority (3,921 AF) Meridian Metropolitan District .55 0 $0.8M (616 AF) Pinery Water and Waste Water District .50 1.0 $1.SM (560 AF) (1,120 AF) Stonegate Village Metropolitan District 0 1.0 $0.7M (1,120 AF) Total (Fum x $1.SM/mdg) ( Variable x $0.75M/mgd) $5.6M Note: Firm capacity is defined as the capacity available to members of the Authority at all times. Variable capacity is the space ECCV owns in the pipeline but will not use during off-peak hours. During peak demand, ECCV will likely use its entire allotted space. There will be times in the day, however, when ECCV is not using all of its capacity and will allow other members of the Authority access to this space. Financial Analysis Table 4 shows a summary of the financial aspects of the loan request. Based on the median household income of the Authority's members' service areas, a high-income municipal interest rate of 4.5% for a 30-year term will be used. Table 4. Financial Summary PROJECT/LOAN Total Project Cost $25,700,000 Project Cost for CWCB Loan Borrowers $5,600,000 CWCB Loan (90% of Bonowers ortion) $5,040,000 CWCB Loan (Including 1% Service Fee) $5,090,400 CWCB Annual Loan Pa ent $312,500 CWCB Annual Loan Obli ation (Includin 10% Reserve Funding) $343,800 Current Number of Taps (served by all four borrowin members combined) 11,675 Average Monthly Cost Per Tap for Project $2.45 Creditworthiness: The Authority has no existing debt. The Authority will collect assessments from Arapahoe County Water and Wastewater Authority, Meridian Metropolitan District, Pinery Water and Wastewater District, and Stonegate Village Metropolitan District to cover the CWCB debt service and reserve account.