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Sanchez Ditch and Reservoir Company Agenda Item 25a <br /> July 16-17,2014 Board Meeting(Updated July 18, 2014) <br /> Page 4 of 4 <br /> TABLE 2: EXISTING DEBT <br /> New <br /> Loan Contract Contract Current Final Annual Additional Estimated <br /> Contract Payment Payment Principal Final <br /> Number Dated Amount Balance Due Amount Payments Payment <br /> Date <br /> C153623 8/20/1992 $200,000 $64,431 2017 $11,485.57 $5,000 2016 <br /> C153755A 9/3/1997 $335,000 $187,644 2023 $19,900.35 $15,000* 2020 <br /> Totals $535,000 $252,075 $31,385.92 <br /> *Note: The additional payment on loan C153755A will begin in 2018 after C153623 is paid off. <br /> TABLE 3: FINANCIAL RATIOS <br /> Original Future <br /> Financial Ratio w/Project <br /> (2009-2011) (2020+) <br /> Operating Ratio (operating revenues/operating expenses) 108% 100% <br /> MIAISI[ITi1A - I average* 100% - 170% - l� <br /> IME (average) (average) <br /> $237K/$220K $246K/$246K <br /> 149% 100% <br /> Debt Service Coverage Ratio <br /> (strong) (average) <br /> (total eligible revenues-operating expenses)/total debt service <br /> FM7.1!7i[i1elti - average: 100% - 170% - .MIZI MSbl�'�. ($237K $185K)/ ($246K 185K)/ <br /> $35K $61K <br /> Cash Reserves to Current Expenses 69% 101% <br /> ��f INSUGA - - .•- •, IGA - •[ii IMMEiD169 (average) (strong) <br /> $151K/$220K $249K/$246K <br /> Annual Operating Cost per Acre-Foot (based on 15K AF) $14.67 $16.40 <br /> � - FIRMS .1GSi►Il (average) (average) <br /> $220K/15K AF $246K/15K AF <br /> Collateral: Security for the loan will remain a pledge of assessment revenues backed by a rate <br /> covenant and the undivided one hundred percent (100%) interest in the Sanchez Dam and Reservoir and <br /> all appurtenant structures thereto, including all lands on which these facilities are located. This is in <br /> compliance with the CWCB Financial Policy#5 (Collateral). <br /> cc: Jerry Lorenz, President, Sanchez Ditch and Reservoir Company <br /> Travis Robinson, Manager, Sanchez Ditch and Reservoir Company <br /> Susan Schneider/Jennifer Mete, Colorado Attorney General's Office <br /> Attachment: Water Project Loan Program - Project Data Sheet <br />