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COLLATERAL <br /> PRID proposes to not obtain the $300,000 requested from CWCB for pre-construction designs <br /> until Rural Development has agreed that there is an adequate number of taps to begin <br /> construction. In this manner, construction of the rural water system should be assured and the <br /> resulting revenue stream from tap fees and water sales. <br /> VWC would offer to provide any one of the following for collateral: <br /> 1. Project facilities. <br /> 2. Tap fees. <br /> 3. Water Sales. <br /> INSTITUTIONAL CONSIDERATIONS <br /> The PRID may need to obtain an approving vote of the shareholders prior to completing the <br /> contract for the loan. <br /> OPINION OF FEASIBILITY <br /> The selected alternative is technically and financially feasible. There are no significant <br /> roadblocks once sufficient taps are committed to meet USDA Rural Development requirements . <br /> 16 <br />