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<br />Agenda Item 3b, November 20 - 21, 2000, Board Meeting - <br />Water Project Construction Loan Program <br />Loan Repayment Delinquency Report <br />And Loan Financial Activity Report <br /> <br />e <br /> <br />Loan Repayments received relative to the Water Project Construction Loan Program have been reviewed <br />for the period covering July 2000 through October 2000. The effective due date of the payment is inclusive of <br />the Board's current 30 day late policy. Hence, the date the payment was received was compared to the last day <br />allowable prior to the payment being considered late. <br /> <br />Repayments due for the first four months of the Fiscal Year 2000 totaled 78. There were two payments <br />not received on time during this period. The loan payment for the City of Fort Morgan was received between 31 <br />and 60 days late. The loan payment for Coon Creek Reservoir & Ditch Company is over 30 days late to date. <br />Thus, the on-time performance for the total repayments due was 97% in compliance or 3% not in compliance. <br />Procedures have been recently implemented to ensure a more successful on-time performance result as depicted <br />above. <br /> <br />The Town of Starkville has made one partial payment in August 2000. The Town is currently two years <br />in arrears. Coon Creek Reservoir & Ditch Company is currently two years in arrears. Pinon Mesa Ranches <br />Community Association had an interest during c.onstruction payment due in July 2000, which has not been <br />received to date. The first annual payment of Pinon Mesa will be due in June 2001. We are currently working <br />with each of these borrowers to resolve their repayment problems in order to bring them into compliance with <br />their loan contracts. <br /> <br />Loan Financial Activity relative to the Water Project Construction Loan Program is detailed on the <br />following attachments. Funds received relative to loans in repayment totaled $4.4 M for the first four months ~ <br />the Fiscal Year 2001. Funds disbursed relative to new project loans totaled $13.7 M for the same period. Net .- <br />activity resulted in $9.3 M expended from the CWCB Construction Fund over the total received. <br /> <br />e <br />