Laserfiche WebLink
<br />/' <br />~ <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />-' <br /> <br />/' <br /> <br />Table 3. <br />upper Yampa WCD - Estimated Long-Term Debt Schedule 1996 <br />It <br /> <br />with Staoecoach efinancino <br /> Annual Payment <br />Item Princioal and Interest <br />CWCB $7.9m Staaecoach Loan $470,252 <br />CWCB $1.5m Yamcolo Loan $72 400 <br />$3.9m GO Refundina Bonds $405,154 <br />CWCB $2.0m Stanecoach Refinance(n $154,000 <br />Total $1,101,806 <br /> <br />(1) Estimated annual payment <br /> <br />Next, I estimated debt service coverage ratios with the Stagecoach refinancing in place <br />and using revenues and expenses from the 1995 and 1996 financial statements and the <br />total debt service from Tables 2 and 3. The results are shown in Table 4. <br /> <br />Table 4, <br />Upper Yampa WCD - Estimated Debt Service Coverage <br /> <br /> with Stanecoach Refinancino <br /> Total Operating Estimated Debt Service <br />Year Revenues Exoense Debt Service Coveraoe <br />1995 $1,882,166 $337,145 $1,105,406 1.40 <br />1996 $2,008,141 $448 782 $1 101,806 1.42 <br /> <br />With the Stagecoach refinancing, annual debt service requirements decrease and the debt <br />service ratio improves to 1.40 and 1.42 which are well above acceptable. This assumes <br />that the District's revenues and expenditures, as given in the 1995 and 1996 financial <br />statements, are typical. <br /> <br />cc: Bill Stanton <br />Ian lIIian <br />Linda Bassi, AGO <br />