BOARD01687

• Board Meeting Date: 1/24/2001
• Description: CF Section - Supply Irrigating Ditch Company
• Board Meetings - Doc Type: Memo

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Supply Irrlgaffng Ditch Co,
January 24-25, 2001,

Agenda Item 11 b,

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Table 2. FInancial Ratios
Without the TO ect
110% avera e
230% (strong)

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50%
$7,69

25%
$17.40

As security for the loan the SIDC will pledge assessment revenues backed by assessment
covenant and Company property at least equal In value to the loan amount.

Recommendation

Staff recommends a loan not to exceed $1 ,700,0001 from the CWCS Construction Fund, to the
Supply Irrigating Ditch Company for rehabilitation of the Knoth Reservoir Dam. The
recommended term of the loan Is 30 years and the recommended blended Interest rate is 3.5%.
Security for the loan will be a pledge of assessment revenues backed by assessment covenant
and Company property at least equal In value to the loan amount.

Staff further recommends that final approval of the !Ioan be oondltloned upon acceptance'of the
project and the associated financial obligations by a vote of the shareholders of the Company,
and all standard contracting provisions of the CWCS.

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cc: Eric Wilkinson, Soard member, CWCS .
Dan Grant, Secretary-Treasurer, Supply Irrigating Ditch Company,
Duane Smilh, P,E" Smith Geotech. .
Linda Bassi, AGO

Attachment

C:\WP61 \ProJ.NewlSupplylrrC01 01 memo
L:\boardmem~an01\11b Supply Irrigating Ditch Co

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