My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
C150210 Paid in Full Contract
CWCB
>
Loan Projects
>
DayForward
>
6001-7000
>
C150210 Paid in Full Contract
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
4/12/2017 2:07:16 PM
Creation date
4/12/2017 2:06:46 PM
Metadata
Fields
Template:
Loan Projects
Contract/PO #
C150210
Contractor Name
Little Thompson Water District
Contract Type
Loan
Loan Projects - Doc Type
Contract Documents
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
29
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
Show annotations
View images
View plain text
KUTAK ROCK LLP <br /> Chad Henderson <br /> April 17, 2006 <br /> Page 2 <br /> on the 2006 Authority Loan rather than waiting the permitted ten-year period for the funding of <br /> such accounts. <br /> As reflected in the documentation relating to CWCB Loan Contract No. C150210, the <br /> District is in the mist of multiple-year increases in its water usage fees, the most recent of which <br /> became effective in January of 2006. The District intends to continue such increases, as needed, <br /> in calendar year 2007. One of the factors, among others, which will impact the size of the rate <br /> increase in 2007, is the number of new customers which begin service in 2006. (The District has <br /> conservatively budgeted for approximately 108 new customers in 2006, which customers should <br /> account for an increase in excess of$100,000 in annual District system net revenue.) <br /> The background for the request of the District is set forth below. <br /> Additional Bonds Test and Reserve Account Requirement from CWCB Loan Contracts <br /> Section 8(e)(ii) of the respective CWCB Loan Contracts state that the District must do the <br /> following prior to the issuance of parity debt: <br /> "The Borrower provides to the CWCB a Parity Certificate from an independent <br /> certified public accountant certifying that, based on an analysis of the Borrower's <br /> revenues, for 12 consecutive months out of the 18 months immediately preceding <br /> the date of issuance of such parity debt, the Borrower's revenues are sufficient to <br /> pay its annual operating and maintenance expenses, annual debt service on all <br /> outstanding indebtedness having a lien on the pledged revenues, including this <br /> loan, the annual debt service on the proposed indebtedness to be issued, and all <br /> required deposits to any reserve funds required by this contract or by the lender(s) <br /> of any indebtedness having a lien on the pledged revenues. The analysis of <br /> revenues shall be based on the Borrower's rcurrent rate' structure or the rate <br /> structure most recently adopted. No more`tl1 n 10% of total revenues may <br /> originate from tap and/or connection fees." = <br /> R� <br /> Section 8(e)(ii) of the respective CWCB r v: e that the District <br /> a <br /> must establish a reserve account as follows: � <br /> "To establish and maintain the debt service reserve account, the Borrower shall <br /> deposit an amount equal to one-tenth of an annual payment into its debt service reserve <br /> fund on the due date of its first annual loan payment and annually thereafter for the first <br /> ten years of repayment of this loan." <br /> Kutak Rock-Firm Library-4835-8633-4976.1 <br />
The URL can be used to link to this page
Your browser does not support the video tag.