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Upper Platte a Beaver Canal Company Agenda Item 23a <br /> July 16-17, 2014 Board Meeting(Updated July 18, 2014) <br /> Page 5 of 6 <br /> Financial Analysis <br /> The Company shares are held by a mix of 89.2% agricultural, 6% commercial, and 4.8% low-income <br /> municipal owners. Blending these under the current interest rates, the Company qualifies for a 2.25% <br /> interest rate for 30 years. The Company applied for a 10-year term, so the interest rate will <br /> accordingly be reduced to 1.75% per CWCB Financial Policy#7. <br /> TABLE 2: FINANCIAL SUMMARY <br /> Total Project Cost $ 210,000 <br /> Borrower Match $ 21,000 <br /> CWCB Loan $ 189,000 <br /> CWCB Loan (Including 1% Service Fee) $ 190,890 <br /> CWCB Annual Loan Payment $ 20,974 <br /> CWCB Annual Loan Obligation (including 10% debt reserve funding) $ 23,072 <br /> Current Annual Assessment per Share $ 260 <br /> Cost of Loan (with Reserve Account) per share (1,187 Shares) $ 19.44 <br /> Creditworthiness: The Company plans to increase assessments in order to cover the project debt <br /> service. The Company's assessments to its members have been increased and decreased annually for <br /> the past four years in response to its debt service needs. <br /> The Company has a credit history with the CWCB, always making its payments on time. Prior loans <br /> include an $83,000 CWCB loan for a diversion structure rehabilitation paid off in September of 2012, <br /> and a $68,175 CWCB loan for the Badger Creek Well Augmentation project, paid off in November of <br /> 2013. <br /> TABLE 3: EXISTING DEBT <br /> Maturity Original Remaining Annual Collateral <br /> Loan Date Balance Balance Payment <br /> Bank of Colorado 2/27/2019 $60,000 $49,916 $10,544 Backhoe <br /> (Brush, Colorado) <br />