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<br />'I <br />. <br /> <br />Uttle Thompson Water District - Proposed Dry Creek Reservoir <br />September 13-14. 2005 <br /> <br />. <br /> <br />Table 1. Financial Summary <br /> <br /> <br />Agenda Item 12a <br /> <br />$10,800,000 <br />7990 <br />$3,937,500 <br />$320,114 <br />$4,945,500 <br />$386,240 <br />$48.00 <br />$7.36 <br />$159.63 <br />$2,441 <br /> <br />Creditworthiness: In 2004, L TWD undertook two water refunding bond issues that will save them <br />approximately $340,000 per year. As of December 31,2004, L TWD's long-term debt was <br />$18,928.783 as listed below: <br /> <br />. <br /> <br />Lonq-Term Debt <br />1999 Water Revenue Bond <br />2002 Water Revenue Bond <br />2004 Water Rev. Refunding Bond <br />2004B Water Rev. Refunding Bond <br />1992 CWR & PD Loan <br />1998 CWR & PD Loan <br /> <br />Principal Balance <br />$4,100,000 <br />3,145,000 <br />4,635,000 <br />5,085,000 <br />845,000 <br />1,118.783 <br />$18,928,783 <br /> <br />Total <br /> <br />Annual Payment <br />due in 2006 <br />$381,523 <br />208,645 <br />258,658 <br />230,213 <br />221 ,490 <br />284.270 <br />$1,584,799 <br /> <br />Maturity Date <br />2019 <br />2021 <br />2014 <br />2020 <br />2008 <br />2008 <br /> <br />The above numbers do not include the CWCB existing loan draw to date of $2,006,700. <br />The District is in compliance with the 1999, 2002, and 2004 bond revenue requirements and the <br />1992 and 1998 loan revenue requirements. CWCB will require parity of its lien on the pledged <br />water revenues with these bonds and loans. <br /> <br />Table 2 shows the Financial Ratios for the District, without considering tap fee revenues, except as <br />shown. The ratios indicate overall average ability to repay both CWCB loans, with future water rate <br />increases. The L TWD plans to raise their water rates about 10% for the next several years. This <br />revenue increase is reflected in the future year financial ratios. <br /> <br />Table 2. Financial Ratios <br /> <br />Financial Ratio Without With project <br /> the project Future Year <br /> (Aver. 2003-04) 2008+ <br />Operating Ratio (revenue/expense) <br />weak: less than 100% 144% 185% <br />average: 100% - 120% (strong) (strong) <br />strano: oreater than 120% <br />Debt Service Coverage Ratio <br />(revenues-expenses )/debt service 100' 101% <br />weak: less than 100% (aver.) (aver) <br />average: 100% - 125% <br />stronQ: Qreaterthan 125% <br /> <br />. <br /> <br />Page 5 of 6 <br />