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Funds <br />a=rm <br />Ditch Con <br />USDA - I' <br />Colorado <br />Colorado <br />Colorado <br />ived will vary from requested amount because of program limits as actual funds are <br />If all Grants were approved at requested amounts <br />Sources of Funding <br />ipany funds $100,000.00 <br />IRCS Environmental Quality Incentive Program $100,000.00 est. /guess <br />River Water Conservation District - Grant Program $100,000.00 <br />River Water Roundtable Funds $ 50,000.00 <br />Nater Conservation Board Revolving Loan $200,000.00 <br />Total $550,000.00 <br />Credit w rthiness: Missouri Heights - Mountain Meadow Irrigation Company has no existing <br />debt. Tabl a 4 shows the Financial Ratios for the Missouri Heights Mountain Meadow - Irrigation <br />Company and indicates average to strong ability to repay with the project in place. <br />The Miss uri Heights - Mountain Meadow Irrigation Company operates on assessments of the <br />water use s. For many years the Ditch Company has kept the assessments as low as possible <br />as many f the users are just getting by. A major project like this could cause the failure of the <br />ditch com any and leave the water unused if loans and grants are not obtained. <br />Table 4. Financial Ratios <br />Annual income at $4.00 per share plus $100 per account is $55,300. Expenses run an average <br />of $40,00 per year. <br />Alternatit e financing considerations: The Missouri Heights - Mountain Meadow Irrigation <br />Company ias investigated alternative financing sources. They have obtained an in -kind grant <br />from the N RCS for engineering design and construction inspection. <br />Collatera As security for the CWCB loan the Missouri Heights Mountain Meadow Irrigation <br />Company Pitch Company can pledge assessment income, water rights and the project itself. <br />Financial Ratio <br />Without the project <br />With the project <br />O erati <br />ig Ratio (revenue/expense) <br />Debi <br />reven <br />Service Coverage Ratio <br />es -ex enses /debt service <br />Cash R <br />serves to Current Expense <br />An <br />(151 <br />ival Cost per acre -foot <br />000 acre -feet diverted. <br />Annual income at $4.00 per share plus $100 per account is $55,300. Expenses run an average <br />of $40,00 per year. <br />Alternatit e financing considerations: The Missouri Heights - Mountain Meadow Irrigation <br />Company ias investigated alternative financing sources. They have obtained an in -kind grant <br />from the N RCS for engineering design and construction inspection. <br />Collatera As security for the CWCB loan the Missouri Heights Mountain Meadow Irrigation <br />Company Pitch Company can pledge assessment income, water rights and the project itself. <br />