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<br />Water Project Construction Loan Financial Activity and Delinquency Report <br /> <br />. <br /> <br />Loan Financial Activity Report <br /> <br />Loan Financial Activity relative to the Water Project Construction Loan Program for the period from July <br />2002 through October 2002 is detailed on the following attachment, Funds received relative to loans in <br />repayment totaled $4.8 M for this period of Fiscal Year 2003. Funds disbursed relative to new project loans <br />totaled $3.6 M for the same period, Net activity resulted in $1.2 M received to the CWOB Construction Fund <br />and the Severance Tax Trust Fund Perpetual Base Account (STTFPBA) over the total disbursed. <br /> <br />.,Further breakdown is summarized as follows: The Construction Fund portion consists of $4.2 M in receivabl, <br />anf! $1.7 M in disbursements for a total net activity of $2,5 M received over disbursed. The STIFPB/, <br />.coI\Sists of $0.6 M in receivables and $1.9 M in disbursements for a total net activity of $1.3 M disbursed OVi', <br />received. <br /> <br />Delinquency Report <br /> <br />LOl\l'l Repayments received relative to the Water Project Construction Loan Program have been reviewed j .. <br />th~'period covering July 2002 through October 2002. The effective due date of the payment is inclusive oft)" <br />,Boljfd's current 30 day late policy. Hence, the date the payment was received was compared to the last d" \ <br />!' allowable prior to the payment being considered late, <br />I <br /> <br />Repayments due for the first four months of Fiscal Year 2003 totaled 85. There were two payments n' <br />'rec,eived on time during this period, The loan payment for Paradox Valley Canal and Reservoir Company w; <br />r!i'ceived between 30 and 60 days late. The payment for Pinon Mesa Ranches Community Association has n, <br />. been received to date. Thus, the on-time performance for the total repayments due was 98% in compliance or . <br />2% not in compliance, <br /> <br />The Town of Starkville and Coon Creek Reservoir &- Ditch Company are currently two years in arrears. We <br />are currently working with each of these borrowers to resolve their repayment problems in order to bring them <br />into compliance with their loan contracts. Pinon Mesa Ranches Community Association is now in default of <br />their loan obligation, <br /> <br />. <br /> <br />27 <br />