C150063 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 I I A lease agreement between the Company and the CDPOR was concluded on May 26, 2000 for the use of recreational rights associated with Jackson Lake Reservoir by CDPOR. The agreement is presently being revised to reflect the financial arrangements that are currently expected to involve the Company, CDPOR and the CWCB. Those arrangements have not been finalized but it appears as if $3.0 million in funding for the dam rehabilitation project will be provided from the following sources: . A loan for $1.0 million at 4.0 percent for 30 years to the Company from the CWCB, . $300,000 in cash from CDPOR to the Company ($220,000 has been paid and $80,000 is expected to be paid during construction), and . A loan of $1.70 million from the CWCB to the CDPOR which, in turn, will use the loan proceeds to pay up to $1.70 million in construction costs in addition to the ~300,OOO described above. The loan to the Company in the amount of $1.0 million for the project was approved by the CWCB and authorized by the Colorado legislature in 1994. A condition of Board approval was a review of the Company's financial condition and ability to repay the loan. The purpose of this study is to provide the CWCB with an updated feasibility study and financial analysis for the 1994 authorization. The CDPOR is expected to request January 2001 CWCB Board meeting. documentation for the loan request. a $1. 70 million loan for the project at the CDPOR is preparing separate but related Assessments Repayment of the CWCB loan will be made from increased assessments. The Company has operated since 1 905 with continuous business operations paid out of annual and special assessments against the 1,550 outstanding shares of stock. Recent historic rates of assessments are listed in Table 11. The assessment for the year 2000 is $97.41 per share, including a special assessment of $37.41. 40