Laserfiche WebLink
<br />. <br /> <br />. <br /> <br />/~:"":::- <br />L,~j'; <br /> <br />Agenda Item 6a(3) <br />October 20, 1992 <br /> <br />Proposed Financin~ <br /> <br />The company proposes the following funding for this project: <br /> <br />Agricultural Soil Conservation Service (ASCS) <br />Special Project Funds (Grant) <br />CWCB Loan (40 years @ 5% interest) <br /> <br />$ 71,500 <br />71.500 <br />$143,000 <br /> <br />Under the above terms the company would have to pay the CWCB $4,167 per <br />year for 40 years for a total repayment of $166,680. . <br /> <br />Although the company would not be contributing funds for the construction of <br />this project it is to be noted that the annual assessment for repayment of the loan will <br />be $300 per share which is substantially above the current $75 per share assessment. <br /> <br />Recommendation <br /> <br />r <br /> <br />It is recommended that this project be authorized by the General Assembly in <br />the amount of $71,500, subject to the proposed terms of financing set forth above and <br />subject to the Company demonstrating to the Board's .satisfaction that it can meet its <br />repayment obligation. <br /> <br />DCL/gl <br /> <br />g103S8.6a3 <br /> <br />2 <br />