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PROJ00158
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Last modified
4/18/2011 1:47:52 PM
Creation date
10/5/2006 11:41:04 PM
Metadata
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Template:
Loan Projects
Contract/PO #
C150098
Contractor Name
Lake Henry Reservoir Company
Contract Type
Loan
Water District
17
County
Crowley
Bill Number
HB 02-1152
Loan Projects - Doc Type
Feasibility Study
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<br />Lake Henry Reservoir Co. <br />November 19-20,2001 <br /> <br />Agenda Item 229. <br /> <br />Table 4. Financial Ratios <br /> <br />Financial Ratio . Without With <br /> . the oroiect the oroiect <br />Operating Ratio (revenue/expense) 175% 140% <br />weak: less than 100% (strong) (strong) <br />average: 100% - 120% <br />strono: greater than 120% <br />Debit Service Coverage Ratio No Debt 117% <br />(revenues-expenses)/debt service (strong) (average) <br />weak: less than 100% I <br />average: 100% - 125% <br />strong: areater than 125% <br />Cash Reserves to Current Expense 142% 66% <br />weak: less than 50% (strong) (average) <br />average: 50% - 100% <br />strong: areater than 100% <br />Annual Cost per Ac-Ft (Capacity 9,500 ac-ft) $ 7.27 $10.70 <br />weak: greater than $20 (strong) (average) <br />average: $10 - $20 <br />strano: less than $10 <br /> <br />As security for the loan the LHRC will pledge assessment revenues backed by assessment <br />covenant and the project itself. This security is in compliance with CWCB Loan Policy #5 <br />(Collateral). <br /> <br />Recommendation <br />Staff recommends a CWCB Loan in amount of $490,000 (for up to 75% of eligible project <br />costs) to the Lake Henry Reservoir Company for rehabilitation of the Lake Henry Dam. The <br />recommended term of the loan is 30 years and the recommended lending rate is 4.5%. Security <br />for the loan will be a pledge of assessment revenues backed by assessment covenant and the <br />project itself. The loan will be funded from the Construction Fund. <br /> <br />Staff further recommends that final approval of the loan be conditioned upon all other standard <br />contracting provisions of the CWCB. <br /> <br />cc: Allen Ringle, Manager, Lake Henry Reservoir Co., P.O. Box 8, Ordway, CO 81063 <br />Miohael Miller, rc, uns Corporation, 8181 [, Tufl~A,,,., D"",,,,, CO 60237 <br />Linda Bassi. AGO <br /> <br />Attachment <br /> <br />C:\WP51\Prej-NewILake Henry 1101 memo; <br /> <br />L:\boardmemINov01\22g Nov 01 Lake Henry <br /> <br />4 <br />
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