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Oligarchy Irrigation Company Consent Agenda Item 5a <br /> May 18-19 Board Meeting(Updated May 20, 2016) <br /> Page 4 of 4 <br /> TABLE 4: EXISTING DEBT <br /> Lender Contracted Current Annual Maturity Collateral <br /> Amount Balance Payment Date <br /> CWCB $488,942 $25,1201 2044 Assessment Revenues, Ditch <br /> (CT2015-025) Headgate <br /> I This emergency loan will be amended at the end of the three year period of no interest and payments to reflect <br /> actual loan balance. Annual payment shown is for a final loan balance of$488,942. <br /> TABLE 5: FINANCIAL RATIOS <br /> Financial Ratio Past 2 Years Future <br /> w/ Project <br /> Operating Ratio (revenues/expenses) 190% 100% <br /> weak: <100% - average: 100% - 120% - strong: >1201 (Strong) (Average) <br /> $139K/$73.2K $148K/$147.6K <br /> Debt Service Coverage Ratio 101% <br /> (revenues-expenses)/debt service NA2 (Average) <br /> weak: <100%II- average: 100% - 120% - strong: >1201 $148K $73.2K <br /> $74.4K <br /> Cash Reserves to Current Expenses 177% 21% <br /> weak: <50% - average: 50% - 100%I- strong: >100% (Strong) (Weak) <br /> $130K/$73.2K $30.8K/$147.6K <br /> Annual Operating Cost per Acre-Foot (7,966 AF) $9 $19 <br /> tweak: >$20 - average: $10 - $20 - strong: <$1011 (Strong) (Average) <br /> $73.2K/7,966 AF $147.6K/7,966 AF <br /> 2 The Company has not yet started repayment of its emergency loan. <br /> Collateral: Security for the loan will remain a pledge of assessment revenues backed by an assessment <br /> covenant and the Project itself (Oligarchy Reservoir No. 1 outlet works). This is in compliance with the <br /> CWCB Financial Policy#5 (Collateral). <br /> cc: Nelson Tipton, President, Oligarchy Irrigation Company <br /> Susan Schneider/Jennifer Mete, Colorado Attorney General's Office <br /> Attachment: Water Project Loan Program - Project Data Sheet <br />