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<br />- , <br /> Supply Irrigating Ditch Co. Agenda Item 24e <br /> March 24-26, 2003. <br /> ~ <br /> e 3. Installation of a toe drain alon <br /> 4. Construction of a 200 foot spill <br /> 5. Placement of riprap on the up <br /> 6. Raising the dam crest on both <br /> 7. Removal of the two abandone <br /> 8. Repair of the existing outlet to <br /> 9. Construct a new concrete inlet <br /> 10. Improve the reservoir outlet dit <br /> The implementation schedule calls for compl <br /> with formal approval and resolution by the Sl <br /> finalize engineering design by fall 2003. Cons <br /> about 4 months to complete. <br /> Financial Analvsis <br /> The total estimated cost of the project is $2,1 <br /> Board approve a Small Project Loan of $1,00 <br /> project cost. <br /> There are 400 shares within the SIDC, of whi <br /> (average income) interests own 6.5 shares, a <br /> shares. The weighted average interest rate (a <br /> rate 4.25%, and municipal high income rate 4 <br /> e The SIDC will fund its portion of the project b <br /> Beaver Park Reservoir water, currently value <br /> gain approximately 370 acre-feet of storage i <br /> 245 acre-feet. Average annual diversions wit <br /> Table 1 is a summary of the financial aspects <br /> from $125 per share, up to $225 per share wi <br /> the 10% reserve requirement.) This represen <br /> share, or $5.76 per acre-foot, based on avera <br /> 245 acre-feet net gain of new storage.) <br /> Table 1. Fin <br /> Project Cost <br /> Total CWCB Loans 146% of Proiect Cos <br /> CWCB Loan Payment Amount, includina <br /> Number of Shareholders <br /> Number of Shares of Stock <br /> Current Assessment Der Share <br /> Future Assessment Der Share <br /> Annual Loan Cost per acre-foot <br /> (Averaae annual diversions: 9,745 acre-f <br /> e <br /> <br />g the north dam. <br />way at the right abutment of the south dam <br />stream face of both dams. <br />dams to gage height 30 feet. <br />d outlets and backfill with compacted clay. <br />good working condition. <br />structure for the reservoir. <br />ch so water can be returned to the Supply Ditch. <br /> <br />etion of financing arrangements in spring 2003, <br />DC shareholders in May 2003. Smith Geotech will <br />truction will begin in summer 2004 and will take <br /> <br />93,000. Staff is recommending that the CWCB <br />0,000 (approximately 46% of the estimated total <br /> <br />ch agricultural interests own 353 shares, municipal <br />nd municipal (high income) interests own 40.5 <br />gricultural rate 2.75%, municipal average income <br />.75%) is 3%. <br /> <br />y selling approximately 125 acre-feet of their <br />d at over $11,000 per acre-foot. The SIDC would <br />n the enlarged Knoth Reservoir, for a net gain of <br />h the project in place would be 9,745 acre-feet. <br /> <br />of the project. Annual assessments will increase <br />th a CWCB loan payment of $56,121 (including <br />ts an annual assessment increase of $100 per <br />ge annual diversions 9,745 acre-feet (including <br /> <br />ancial Summary <br /> <br />t <br />10% loan reserve <br /> <br />$2,193,000 <br />$1,000,000 <br />$56,121 <br />160 <br />400 <br />$125 <br />$225 <br />$5.76 <br /> <br /> <br />3 <br />