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<br />""""""'.....i."......P."'''C<:im;l."y <br />__'ll-~,;1Q(l3 <br /> <br />1ogeraat=-1Ie <br /> <br />Tabkl2. FlnanciatRatios <br /> <br />Financia/R"tio Without With <br /> !hI/project Th.II--.Pr-9i'!Ct_ <br />Operating Raho{revenue/expensel 119% - . .- <br /> '06" <br />_.IeSSlh." 100'10 (average) (average) <br />il.era\je:100'lo.'20'4 <br />stron9.'--gr!,ale~n\lO'4 <br />Debt Service COVera\le Ratio NoD.,,, 124% <br />(revenues~xpenses)ldeblservice (strong) (average) <br />_:_.\tIanl~ <br />__;100"l."2!t'oo <br />""o~~~E5'" <br />Cash Reserves to Current Expense '0% "" <br />_""'~esslt1an(i.O% (weak) (weak) <br />iO\Ierage:50%_,OO% <br />SVOng:ar!.,,-I~~l00"!' <br />Annual Cost per Ac-Ft (8900ac..f\d_~1 $1.18 $3.09 <br />""'ak. ll,e",C.' Ill..... S2ll (strong) (slrong) <br />_;!oQC:S'O-S20 <br />..rono.......t:W.$10 <br /> <br />As S8CUrily far the loan the JEDC will pledge assessment revenu" tlacked by asseument <br />covenant and the ditch itself. This security is In comphance Willi ewcs Loan Policy #5 <br />(COllateral). <br /> <br />Recommend3!ion <br />Staff recommends a CWC8 Small Project loan from the COnstruction fund in amounl up 10 <br />$133.825 (S132,500for project costs and $1.320 for the 1'-0 Loan Service Fee. Ulaccordance <br />wllh CWC8loan PolIcy #16) to the Johnwn and Edwards Doto;h Company The loan is for up 10 <br />90% of lhe cost to conslruct a well augmeolatlOl'l and groundwaler recharge pfojecl. Tne <br />recommllnded loan lerms are 30 years at 2 5% (2.58% Annual Percentage Rale). 20 years at <br />2.25% (2.36% Annual Percentage Rate). or 10 years at 2% (2.20% Annual Percentage Rale). <br />al the borrower's option. Secunty for the loan w,1I be a pledge of assessment revenues bac~ed <br />by assessment covenant and Other Company property adequale 10 assure repayment of the <br />loan, in ac.cordance Wlth CWCB loan Pohcy #5 <br /> <br />Staff turther recommends lnal final approval of lhe loan be COO(!illOfled upoo standard <br />conlraclong provisions of theCWCB <br /> <br />ce: Tom GolI. Jo<1nso" and Eowards Dltc~ Co <br />Brer.tNulKl".PE <br />l.IrodaBasS<,AGO <br /> <br />Auacllmenl <br /> <br />C Pmt~EOC 1103 memo; <br /> <br />l~1No.o:Jl&'JoI.-.oo_Eo~ard.O""'" <br /> <br />, <br />