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12/21/2011 10:57 7197425420 TOWN OF LA VETA PAGE 03/11 <br />TOWN Of LA VETA, COLORADO <br />NOTES TO FINANCIAL STATEMENTS <br />December 31, 2008 <br />N_ OTE 4 CAPITAL ASSETS LCtontintted <br />Business-TW Activities <br />40,519 <br />Water <br />Sewer 22.438 <br />'otal goEii$tion E - Business Tvoe Activities . <br />NOTE 5 CHANGES IN LONG-TERM DEBT <br />The following is a schedule of long -term debt for all funds for the year ended December 31, 2008: <br />Energy impact Assistance Loan <br />Note Payable -- Colorado Water <br />Resource <br />Capital Lease <br />OCR— <br />Balance Balance <br />1 /1i2008 Additions Deletions 12131/2pQ8 <br />23,519 - 11,589 . 11,930 <br />- 602,952 - 602,952 <br />14,276 6.790 7.486 <br />37,22102-252 '18.379 622.368 <br />Notes Payable • Energy Impact Assistance f Water FuMM <br />The Town of La Veta Water Fund entered into a loan with the State of Colorado Department of Local <br />Affairs for $132,500 at 5.00' /o interest. The 15 annual payments are $12,765 starting September 1, 1996 <br />and ending September 1, 2009. Following is the summary of payments. <br />2009 <br />Totals <br />Princival <br />Interest <br />Total <br />11.930 <br />S�6_ <br />12 526 <br />Not Pa 1e - Colorado Water Resources and Power Autl>otjU <br />On April 11, 2008 the Town of La Veta entered into a loan agreement with Colorado Water <br />Resources and Power Development Authority for the purpose of improving the Town's water <br />system. The total amount available through the loan is $1,134,000 at an interest rate of 1.875% and s <br />term of 30 years. The loan is being drawn down as the project progresses. The first payment on the <br />loan will be on November 1, 2009 based on an amortization schedule reflecting the total amount <br />borrowed. The Town had drawn down $602,952 of the loan as of December 31, 2008. <br />-21- <br />