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'l-- Members. CWCB and Rod Kuharich November 16. 2004 Page 2 of4 '. . Drinkine Water Revolvinl! Fund Drinking Water Revolving Fund loans were executed with Pinewood Springs Water District ($880.000) for a treatment plant and an infiltration gallery, the town of Swink ($670,000) for pipelines and meters, and the city of Florence ($800,000) for a treatment plant. A DWRF loan to Lookout Mountain Water District ($450,000) has been authorized, but not yet executed. Cottonwood Water and Sanitation District and Arapahoe County Water and Wastewater Authority may apply for $20 to $30 million in loans to upgrade a water treatment plant early next year. Also, early in 2005 the city of Craig may apply for a $4,5 million loan to upgrade a water treatment plant. Earlier this year the Authority received the 2004 capitalization grant ($13.3 million) from the U.S. EPA. The 2005 capitalization grant is expected to be the same amount. At its June meeting, the Board approved the creation of a DWRF disadvantaged communities loan program. This program will begin in 2005 and be available for low-income communities with populations of up to 5.000. For communities with a median household income ("MHI") of between 61 % and 80% of the State' s MHI. loans could have terms up to 30 years and an interest rate of one-half of the current direct loan rate. For communities with a MHI of 60% or less. loans could have terms of 30 years and an interest rate of zero percent. Loan size is still limited to $1 million. For 2005. $4 million has been budgeted for this program. At its December 3rd meeting. the Board will be setting the 2005 direct loan rate (loans under $1 million) for the DWRF program. It currently is 3.5%. Loan capacity for 2005 is expected to be $53,000,000. Small Water Resources Proiects and Water Revenue Bonds In April, the Authority executed a $14.5 million loan with the town of Erie for a new water treatment plant. The 20-year loan had an interest rate of 4.21 %. As indicated above, $20 million loans were executed in May with the cities of Englewood and Littleton. The loans had shorter maturities (Englewood- I3 years, Littleton- JJ years) than the 21-year WPCRF loans. The interest rates (Englewood-4.JJ%, Littleton-3.7%) for these loans were different due to the terms but also due to different amortization schedules, In June, the Parker Water and Sanitation District executed a $105 million Water Revenue loan to build the Reuter-Hess Dam and Reservoir Project and other associated facilities. Ground- breaking for the dam was held on October 14, The 39-year loan had an interest rate of 5.12%. In September, the Authority executed a $3.5 million loan with Copper Mountain Consolidated Metropolitan District. The 20-year loan had an interest rate of 3.95%.