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<br />Director's Report Attachment - January 24, 2001, Board Meeting <br />Water Supply Planning and Finance Section <br />Financial Information <br /> <br />Loan Financial Activity Report <br /> <br />Loan Financial Activity relative to the Water Project Construction Loan Program is detailed on the <br />following attachments. Funds received relative to loans in repayment totaled $5.6 M for the first six months of <br />the Fiscal Year 2001. Funds disbursed relative to new project loans totaled $22.4 M for the same period. Net <br />activity resulted in $l6.8 M expended from the CWCB Construction Fund over the total received. <br /> <br />Loan Repayment Delinquency Report <br /> <br />Loan Repayments received relative to the Water Project Construction Loan Program have been reviewed <br />for the period covering July 2000 through December 2000. The effective due date of the payment is inclusive of <br />the Board's current 30 day late policy. Hence, the date the payment was received was compared to the last day <br />allowable prior to the payment being considered late. <br /> <br />Repayments due for the first six months of the Fiscal Year 200 1 totaled 105. There were three payments <br />not received on time during this period. The loan payment for the City of Fort Morgan was received between 31 <br />and 60 days late. The loan payment for the DeWeese-Dye Ditch and Reservoir Company is over 30 days late. <br />The loan payment for Coon Creek Reservoir & Ditch Company is over 60 days late to date. Thus, the on-time <br />performance for the total repayments due was 97% in compliance or 3% not in compliance. Procedures have <br />been recently implemented to ensure a more successful on-time performance result as depicted above. <br /> <br />The Town of Starkville has made one partial payment in August 2000. The Town is currently two years <br />in arrears. Coon Creek Reservoir & Ditch Company is currently two years in arrears. Pinon Mesa Ranches <br />Community Association had an interest during construction payment due in July 2000, which has not been <br />received to date. The first annual payment of Pinon Mesa will be due in June 2001. We are currently working <br />with each of these borrowers to resolve their repayment problems in order to bring them into compliance with <br />their loan contracts. <br /> <br />10 <br />