Laserfiche WebLink
Little Thompson Water District <br /> Notes to Financial Statements <br /> December 31, 2009 <br /> Note 7- Rate Maintenance(Continued) <br /> 2009 principal paid 1,020,000 <br /> 2009 Interest paid 598,211 <br /> 1,618,211 <br /> Subtotal <br /> x 125% <br /> Required net revenue as required by the bond resolutions 2,022,764 <br /> The following calculation shows the District's compliance with these bond agreements: <br /> Net revenues as defined in the bond agreements <br /> Operation revenues 5,635,585 <br /> Non-operating revenues 191,246 <br /> Connection fees 596,360 <br /> Subtotal 6,423,191 <br /> Operation and maintenance expense (3,969,247) <br /> New revenue as defined in the bond agreements 2,453,944 <br /> The District's 2006 loan agreement with the CWR&PDA requires the District to establish, levy, and collect <br /> rents, rates, and other charges for the products and services provided by the system in an amount sufficient <br /> to(1)meet the operation and maintenance expenses of the system, (2)to comply with all covenants in the <br /> loan resolution, and (3) pay at least 100% of the debt service on all indebtedness or 110% of such debt <br /> service if connection fees are included as a source of repayment. <br /> 2009 principal paid 257,902 <br /> 2009 Interest paid 177,744 <br /> 435,646 <br /> Subtotal <br /> x 110% <br /> Required net revenue as defined in the 2006 CWR&PDA loan agreement 479,211 <br /> The following calculation shows the District's compliance with this loan agreement: <br /> Net revenue as defined in 2006 CWR&PDA loan agreement <br /> Operating revenues 5,635,585 <br /> Non operating revenues 191,246 <br /> Connection fees 596,360 <br /> Subtotal 6,423,191 <br /> Operating Expenses (3,969,247) <br /> Net revenue as defined in 2006 CWR&PDA loan agreement 2,453,944 <br /> 21 <br />