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<br />an interest rate of 12% (assumed for this study). In August 1984 <br />Summit will have made another p~yment ~nd a different interest <br />rate will be in effect, but these values were used for evaluation <br />in this ,study. <br /> <br />The annual operation and maintenance expenses for Summit were <br />estimated, based on the last two years, to be $30,000.00.' The <br />annual debt service requirements for the CWCB and Wichita Bank <br />loans are calculated and added to the annual expenses, as shown in <br />the table below. <br /> <br />Year1y'Cost <br /> <br />Operation & Maintenance <br /> <br />$30,000.00 <br />2,039.00 <br /> <br />CWCB Advance <br /> <br />Wichita Bank Loan <br /> <br />7,390.00 <br /> <br />Emergency Operating Fund <br /> <br />200.00 <br /> <br />Total Annual Expenses <br /> <br />$39,629.00 <br /> <br />: Summit can expect ,total annual expenses of about $39,629.00, <br />which if divided by 400 shares, is $99 per share. This is within <br />Summit's ability to repay. <br /> <br />Conclusions and Recommendations <br /> <br />The results of the feasibility study show that the CWCB can <br />advance $35,000.00 to Summit for improvements to Summit Reservoir, <br />and be assured that the advance can be repaid. Optimally, the <br />money would be available to Summit on or about July 1,1984. <br /> <br />-3- <br />