Board Meeting 01/14/1985 - Laserfiche WebLink

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The proposed funding for the project would be: City provided funds Funds CWCB (to be repaid by water users fees) $1.690.000 . TOTAL 1.690.000 $3.380.000 Under the financing ar.rangement. charges would be levied by the CWCB at the rate of $98.493 per year for 40 years for a total repayment of $3.939.720. Mr. Vandemoer moved. seconded by Mr. Furneaux. that the project as described be recommended by the Board to the General Assembly for authorization subject to the terms of the proposed financing specified above. Motion adopted unanimously. '6. . San Miquel Water Conservancy District - Phase I (Lone Cone Reservoir F.nlarqement Project) Proposed Financinq The proposed funding far the project is as follows: San Miguel WCD (bands or commercial loan) CWCB funds (to be. repaid by users charges) $1.012.500 TOTAL 1.012.500 $2.025.000 . Under the financing arrangement. payments to CWCB would be $59.008 per year far 40 years for a total repayment of $2.360.320. When the retirement of a bond issue for the entity's 50 percent .share is included. it is expected that the entity would have to pay an additional amount of. $159.120 per year (assuming a $1.5 million band issue. which includes interest during construction and reserve accounts. at 10 percent per annum to be repaid in 30 years). Adding $5.000 per year for operation and maintenance increases and $11.758 per year for the CWCB required reserve fund increases total annual expenses to $234.886. Ms. Sanfilippo moved. seconded by Mr. Vandemoer. that the proposed project be recommended to the General Assembly for authorization in the amount of $2.025.000 sUbject to the terms of the proposed financing specified above. Motion adopted unanimously. 7. North Poudre Reservoir No. 15 Proiect Proposed Financinq . -18-