North Poudre Irrigation Company Agenda Item 28a
<br /> March 22-23, 2017 Board Meeting(Updated March 23, 2017)
<br /> Page 5 of 6
<br /> Creditworthiness: The Company has $7.9 million in existing debt comprised of eight CWCB loans (Table
<br /> 4 below), in repayment and in good standing, and three CWCB loans in disbursement (Table 5 below).
<br /> In response to ongoing and future planned projects, the Company increased assessments from $130 to
<br /> $200 in 2015, and again to $210 in 2017 in anticipation of both this Project and the ongoing
<br /> Rehabilitation of the Livermore Irrigation Tunnel (CT2017-1402) project.
<br /> TABLE 4: EXISTING DEBT IN REPAYMENT
<br /> Lender Contract Original Current Annual Maturity Collateral
<br /> No. Balance Balance Payment Date
<br /> CWCB C153833 $500,000 $102,311 $36,889 2019 100% Interest in North
<br /> Poudre Res #5 Et Res #6
<br /> CWCB C150013 $623,778 $309,608 $46,061 2024 100% Interest in Fossil Creek
<br /> Dam &t Reservoir
<br /> CWCB C153385 $1,331,704 $501,616 $77,612 2024 100% Interest in Fossil Creek
<br /> Dam 8t Reservoir
<br /> CWCB C153449 $1,152,909 $518,829 $67,192 2026 100% Interest in Fossil Creek
<br /> Dam Ft Reservoir
<br /> CWCB C150170 $735,280 $461,508 $50,572 2027 100% Interest in North
<br /> Poudre Res #1 (Miner's Lake)
<br /> CWCB C153496 $404,502 $219,012 $23,574 2029 100% Interest in Fossil Creek
<br /> , Dam $ Reservoir
<br /> CWCB C153572 1 $340,551 $206,002 $19,847 2031 100% Interest in Fossil Creek
<br /> Dam 8t Reservoir
<br /> CWCB C153637 $1,761,096 $1,009,351 $64,378 2035 100% Interest in North
<br /> Poudre Res #5 It Res #6
<br /> Totals $ 3,328,237 $ 386,125
<br /> TABLE 5: ONGOING CONSTRUCTION PROJECTS
<br /> Contract Contract Current Balance Contracted
<br /> Lender No. Amount (As of 3/1/17) Annual Collateral
<br /> Payment
<br /> CT2015- Fossil Creek Res Inlet
<br /> CWCB 024 $ 876,680 $ 418,586 $ 44,220 Diversion Structure,
<br /> Assessments
<br /> CWCB CT2015- $ 2,263,410 $ 2,105,351 $ 105,989 100% Interest in Reservoir
<br /> 003 #4 Dam 8t Res, Assessments
<br /> CWCB CT2017- $1,437,300 $ 616,282 $ 67 066 100% Interest in Reservoir
<br /> 1402 #4 Dam & Res, Assessments
<br /> Totals $ 4,577,390 $ 3,140,219 1 $ 217,275
<br />
|