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<br />. <br /> <br />. <br /> <br />. <br /> <br />" <br /> <br />. <br /> <br />. <br /> <br />Agenda Item II a <br />November 18, 1996 <br />Page Two <br /> <br />PROJECT SPONSOR <br /> <br />The Upper Yampa Water Conservancy District encompasses most of Routt County and a small <br />portion of Moffat County. The District supplies water to irrigators, to municipalities and <br />special districts, and to industrial water users in the Yampa River Valley. The major water <br />supply facilities of the District are the Stagecoach and Yamcolo Projects. <br /> <br />An analysis of the District's financial condition based on the December 31, 1995 auditor's report <br />is summarized in Table I. The analysis indicates that operating revenues were sufficient to cover <br />operating expenses and that total revenues, which included sales of water and power as well as <br />property taxes, were generally adequate except that the debt service coverage of 0.93 is <br />somewhat below the recommended level of 1.0. Total equity and the debt to equity ratio were <br />quite good. <br /> <br />TABLE 1. Upper Yampa WeD Financial Analysis <br /> <br />Fianaciallndicators 1995 <br />Pooulation rRoutt County - 1990\ 16,096 <br />Median Household Income (Routt County - 1~90) 531.409 <br />Assessed Valuation UYWCD~ 1996 5542,004.432 <br />UYWCD ODeratina Revenue 5685,285 <br />UYWCD Total Revenue (Water Revenue+Power Revenue+Pron. Taxes) 51,631,784 <br />UYWCD OoeratinQ Exoense 5489.902 <br />Ooeratino Ratio - OR/OE 1.40 <br />UYWCO Annual Debt Service 51,233,695 <br />Debt Service Ratio = ITR-OElIDS 0,93 <br />UYWCD Total Debt S14,640,525 <br />Debt per Canita 5900 <br />Net Eoultv 59,859,942 <br />Debt to Eouity = Total Liab.lIT otal L1ab. + EaciM 0,62 <br /> <br />It should also be mentioned that the District has an existing Construction Fund loan for the <br />Yamcolo Project which was constructed in 1979-1980. The November 1996 balance on the <br />Yamcolo loan is $900,000 and annual principal and interest payments are $72,400. <br /> <br />The District is current on both the Stagecoach and Yamcolo loans. <br /> <br />USBR LOAN <br /> <br />The Upper Yampa District is requesting a Construction Fund loan of $2.0 million to assist in <br />paying off the existing USBR loan on the Stagecoach Project. The balance on the USBR loan as <br />ofDecember31, 1996 will be $3,107,973 and the lending rate is 6.9 percent according to <br />information provided by the District. The District would pay $1,107,973 of the balance on the <br />loan with its own funds. <br />