C153827 Feasibility Study - Laserfiche WebLink

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I I I I I I I I I I I I I I I I I I JtlI.ESBtlRG IRRIGATION DISTRICT NOTES TO FINANCIAL STATEMENTS Oacembar 31, 1996 NOTE C - JULES BURG DAM NO. 4 RECONSTRUCTION The District commenced a reconstruction project an the JU18~b~q Dam No. 4 during 1992. The total cost of the project to date is $770,827, Which includes the construction of a fish screeninq system which has bsen funded with a qrant from the Colorado Division of Wildlife in the amount of $141,852. The District received approval for a construction loan from the Colorado Water Conservation Board in the amount of $386,750. NOTE D - NOTE PAYABLE - COLORADO WATER CONSERVATION BOARD The District obtained construct1on loan approval from the landowners and fram the Colorado Water Conserva~ion Board in the amount of $386,750 for reconstruction of the Julesburg Dam No.4. The loan shall be repaid in forty equal annual installments of $22,539, including 5\ interest. The first installment shall be due and payable on the first day of the month succeeding the month in which the state determines that the project has been substantially completed. The District shall execute a wa~anty deed within thirty days of the substantial completion date of the project that shall convey to the State sn undivided one hundred percent of the Julesburg Da~ No. 4 and appurtenant structures as security for the loan. NOTE E - CHANGES IN GEN'DAL LONG TEM DEBT The changes in general long term debt are summarized as follows: Juleaburq '" Dalll No. 4 Reconstruction Equ1p11lent Equ1p11lent Loan Lease' Purchase Total -------------- --------- --------- ----- Balance-Beginning of the Year $321,602 $ 0 $ 0 $321,602 Equip~ent Capital I..... a 0 155,580 155,580 Construction Loan (602) 0 0 (602) Equipment Lease 0 10,000 40,000 50,000 payment on Principal 0 0 0 0 -------- ------- -------- -------- Balance-End of the Year $321,000 $10,000 $195,580 $526,580 ======- ==---=--- .....-.... =-~-==-- 8.