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L � <br />Central Colorado WCD — Well Augmentation Subdistrict Agenda Item 14d <br />November 16-17, 2004 <br />Additional Financial Ratio — The assessed valuation of the WAS Subdistrict is approximately <br />$100,000,000. With proposed loan of $20,000,000, the Total Debt/Assessed Value Ratio = 20% <br />(DOLA criteria: Strong < 25%, Average 25-50%, Weak > 50%). <br />Security for the loan will be a pledge of general revenues received from property taxes, as <br />authorized by the WAS Subdistrict's November 2, 2004 election, and any other funds legally <br />available. This is in compliance with CWCB Loan Policy #5 (Collateral). <br />Recommendation <br />Staff recommends a loan not to exceed $20,200,000 ($20,000,000 for project costs and $200,000 <br />for the 1% Loan Service Fee in accordance with CWCB Loan Policy #16), to the Well Augmentation <br />Subdistrict of the Central Colorado Water Conservancy District, from the Severance Tax Trust Fund <br />Perpetual Base Account, to purchase water rights and to construct lined gravel pit storage. The <br />recommended terms of the loan are 30 years at 2.50% per annum. Security for the loan will be a <br />pledge of general revenues received from property taxes, as authorized by the Well Augmentation <br />Subdistrict's November 2, 2004 election, and any other funds legally available. <br />Staff further recommends that final approval of the loan be conditioned upon all other standard <br />contracting provisions of the CWCB. <br />cc: Mr. Tom Cech, Executive Director, Central Colorado Water Conservancy District <br />Mr. Chad Henderson, AGO <br />Attachment <br />Action Taken bv the CWCB on November 17, 2004 <br />The CWCB approved the Staff Recommendation. <br />Page 5 of 5 <br />