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C150156 FS
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Last modified
8/10/2011 9:59:35 AM
Creation date
6/24/2010 2:06:25 PM
Metadata
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Template:
Loan Projects
Contract/PO #
C150156
Contractor Name
Arkansas Groundwater Users Association
Contract Type
Loan
Water District
14
County
Pueblo
Loan Projects - Doc Type
Feasibility Study
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' <br />' <br />' <br />' <br />' <br />C <br />' <br />� <br />1 <br />' <br />C <br />J <br />' <br />' <br />Other annual costs associated with the proposed water rights purchase of 785 shares are estimated to be <br />$5,985 ($5,407 per year for annual ditch assessments and $578 per year for lease of winter return flow <br />water). Other annual costs associated with the existing 1,007 owned shares are estimated to be $7,678 <br />($6,936 for annual ditch assessments and $742 for winter return flow water). Total costs for 1,792 shares <br />are $12,343 for annual ditch assessments and $1,320 for annual winter return flow replacement. These <br />costs are accounted for in the schedule of revenue and expenditures presented in Table 9. <br />Also included in Table 9, in addition to the proposed Excelsior purchase costs, AGUA has annual <br />payments of $27,964 and $3,082 for two existing CWCB loans, making the total annual payment to the <br />CWCB for the existing and proposed Excelsior Ditch shares $77,412. AGUA has a$25,000 feasibility <br />study loan from the CWCB with a tertn of 10 years and an interest rate of 4 percent. The balance <br />remaining on this loan is $8,691 and the final payment will be made in December 2006. The annual debt <br />service on this loan is $3,082 per year. AGUA's second existing loan from the CWCB was in the amount <br />of $590,590. The balance on this loan is now $600,873 due to AGUA receiving a loan payment deferral <br />for the past two years. (AGUA was granted a deferral for four years, but they have offered to forego the <br />deferral beginning in 2004 if they are granted the currently requested CWCB loan.) The annual debt <br />service on this loan, which has a remaining term of 35 years and an interest rate of three percent, is <br />$27,964 per year. AGUA's total annual repayment obligation for these three loans is $77,412 for the first <br />three years, $74,330 for the following 27 years, and 27,964 for the final five years. AGUA has sufficient <br />funds in various money market accounts to commit $77,412 to a loan reserve fund, which would be <br />adequate to make one annual payment on the three loans. <br />After the purchase of the 785 shares of Excelsior Ditch, AGUA projects annual expenditures as follows: <br />Annual loan payments to CWCB <br />' Office and Administrative expenses <br />Engineering expenses (current year and past year deficit amounts) <br />Well test fees <br />' <br />' <br />' <br />Assessments on 1792 Excelsior Ditch Shares <br />TOTAL Fixed or Reasonably Estimable Costs <br />' AGUA — 2003 Feasibility Study - 21 - <br />$77,412 <br />$60,000 <br />$56,000 <br />$12,000 <br />$13,663 <br />$219,075 <br />August 15, 2003 <br />
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