Laserfiche WebLink
<br />-' <br /> <br />POLICY NUMBER: 4 <br /> <br />. <br /> <br />SUBJECT: <br /> <br />CONSTRUCTION <br />CREDITWORTHINESS <br />DETERMINATIONS <br /> <br />FUND <br />AND <br /> <br />BORROWER <br />FINANCIAL NEED <br /> <br />EFFECTIVE DATE: October 1,1999 <br /> <br />POLICY: The Colorado Water Conservation Board (CWCB) shall make <br />water projects loans available to all Project Sponsors (up to the <br />limit of funds available for lending in anyone year) who can <br />establish that they have the ability to repay the loan, For all loans <br />from the CWCB Construction Fund and Severance Tax Perpetual <br />Base Account, the Board will require analyses of the project <br />sponsor's creditworthiness and financial need. <br /> <br />PURPOSE: To establish a' systematic method for evaluating the relative <br />creditworthiness and fmancial need of potential loan recipients, <br /> <br />APPLICABILITY: This policy applies to the consideration of all loan applications <br />from the CWCB Construction Fund and Severance Tax Perpetual <br />Base Account. . <br /> <br />. <br /> <br />PROCEDURE: <br /> <br />As an integral part of the feasibility investigation for each <br />proposed project, the project sponsor will submit the following to <br />the CWCB staff: <br /> <br />The project sponsor's most recent schedule of rates or <br /> <br />assessments. <br /> <br />Copies of the project sponsor's three most recent audit <br />reports or financial statements, <br /> <br />A summary of the results of applications to all other lenders <br />to which the project sponsor has applied for funding of the <br />proposed project. <br /> <br />The cost of the water developed by the project in terms of <br />cost per acre-foot or per 1,000 gallons, <br /> <br />A detailed projection of all revenues and all expenditures <br />by year over the period of debt retirement with the CWCB, <br /> <br />. <br />