Laserfiche WebLink
<br />. <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />Pine River Irrigation District <br />River Gaging Station <br />(management improvement) <br /> <br />Proposed Financing <br /> <br />The District is requesting a 100 percent construction cost loan in the amount of <br />$190,000 at 5% for 40 years. The latest financial statement for the District showed that it <br />had over $400,000 in reserved funds at the end of 1990, however, the District manager has <br />stated that the District needs some of these funds for an inflow data base program and due <br />to the age and large size of the reservoir he feels a substantial reserve for repairs and <br />replacement items for the reservoir is essential to the District. <br /> <br />Under the above terms the district would have to pay the CWCB $11,073.20 per year <br />for 40 years for a total repayment of $442,928. <br /> <br />It is to be noted that this project could have qualified as a management/ <br />demonstration and partial grant funding except that this District has had the foresight to <br />establish an emergency reserve fund for eventual repair of its facilities. <br /> <br />Recommendation <br /> <br />It is recommended that this project be authorized by the General Assembly in the <br />amount of $190,000, subject to the proposed terms of financing set forth above and subject <br />to the District demonstrating to the Board's satisfaction that it can meet its repayment <br />obligation. <br /> <br />FMA/bj <br /> <br />bj37S.11 <br />