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Tri-GounFy WaYer Constrvancy DislricE <br />Sep�ember 2. 2011 (Upd�t� Srptember 14, 20i1) <br />Page 6 of 7 <br />TAB�.E 4: P`INANCIAL RATIOS <br />�� ,� . <br />�'��� k ,,� � � � � tl �<, � �° � <br />.. , <br />�� �� k � � . ' � y�, y � . <br />�� C � � <br />'�'"s� "a��a�'{P,��� �:....- {... .s�. . �5��., ! '�r�.. �t''�.x{. .. , . . ,.�'.� �. . ,. .. �.::�:r <br />0 <br />Operat�ng Ratio 4revenues/expenses)* 126 /o <br />(strong) <br />wsak: <l0U°lo - avera �e: 1{}4% - 124% - stron : >120°/ $6.3M1$5.4M <br />(revenues- <br />�vea,lc; <100% � - <br />Coverage Ratio <br />�l/total dcbt service** <br />: 100% -120% � - � stroz�g:_>1 <br />Cash Reserves to Current Expenses <br />_..r.... <br />weak: <50°/� - average: 50% - l00% - stron .:>� aa�i <br />Average Resid�tial Water Bill {monthly) <br />��,,,. <br />eak: >$&0 - avera�e�. $�30 - $60 - stxon : �$3 <br />Debt per Tap (Total Debdtaps) <br />eak: >�5,000 - average: $2,504 - $S,OOQ - stron : <$2,OE} <br />�:.....���...� �� <br />146% <br />(strong) <br />(Sb.3M-$2.8M�S2.4M <br />231% <br />(strong} <br />$12M/$S.ZM <br />$30.92 <br />(average) <br />$4,449 <br />(average) <br />$33:OM/7,417 <br />ngenda Ium zoc <br />119% <br />(average) <br />$6.3M/$5.3M <br />110% <br />(average) <br />ta�.3M-as.�Mya3.oM <br />144% <br />(stron8) <br />$7.8M/$5.4M <br />$30.92 <br />(average) <br />$b,3 i0 <br />(weak} <br />$46.SM/7,417 <br />*"Future Expe�rses" include projected expenses jor O&M (�8ZI0,000) and Bureau lease ($67,804) <br />"* In 19?0 the District issued General Obligatton Bonds far an approximate debt service of $��0,000 per year. This <br />debtservece was retired in 2a10 and is nat included in "Future w/Project" <br />Collateral: As security %r the loan, the District will pledge power revenues and water usa$e <br />revenues backed by a rate covenant and annual financial reporting. This is in compliance with the <br />CWCB Financial PoIicy #5 (Callateral). <br />Staff Recommendation (Baard approved staf# recommendation on September i4, 2011) <br />Staff recommends the Board approve a loan, from the Construction Fund, not to �xceed $9,090,OOQ <br />($9,000,000 for projecE costs and $90,000 fnr the 1% Loan Service Fee) to the Tri-CQUnty Water <br />Canservancy District, acting by and t�irougY� its Water Enterprise, for the Ridgway Reservoir Micro- <br />Hydro Project. The loan terms shail be 30 yeats at the hydroelectric rate of 2.0°fo per annum• <br />Security for the loan shall be in compliance vvith the CWCB Financial Policy #5. <br />Staff further recomm�ends that no funds be dispersed prior to the follovving conditions being <br />satisfied: <br />i} Executi�n flf the Lease of Power Pri�ilege <br />2) Executzon af the Power Purchase A$reement <br />3) Execufion of the loan contract with the Colarado Water Resources ax�d Power Develapment <br />Aathozity <br />4) A 4Q4 Permit fmm the Corps of Engineers, or a letter from the Corps stating that a 404 <br />Permit is not required. <br />5) �.z� interconnection agreement betvveen the District and San Miguel Power Association or <br />Tri-State Generation and Transmission Association. <br />cc: Mike Berry, General I�Ianager, Tri-County Water Canservancy District <br />Susan Schneider, AG4 <br />Peter Jahr�san, AG{� <br />