PROJ00438

• Contract/PO #: C153837
• Contractor Name: Chatfield South Water District
• Contract Type: Loan
• Water District: 8
• County: Douglas
• Bill Number: HB 98-1189
• Loan Projects - Doc Type: Feasibility Study

~pr-20-9a Ol:59P HO'm~..& Narver - Denver 303t1r9 6069

Chatfield South W~r Disttict

Financed Costs:

The total start up costs for the Chatfield South Water District
to rmancc are expected to be as follows:

Fees to form District
Water Purchase
Phase I Water System
Total:

$ 15,000
$ 400,000
S 741.000
(Now) $ 1,156,000

Phase II

(lnyear~ $251,000

----..-..-..--...--...------.......------..------..------...---------...

Loans:

Drinking Water Revolving Fund requires a $3,642.SO closing cost
The yearly debt service is $ 57,446, two payments per year.
The interest rate is 4.5%. $ 728,500

Colorado Water Conservation Board requires 25% down,
but the Douglas County water reserve may count toward this requirement
The yearly debt service is $ 31,420 one payment per year.
The interest rate is 4.75% S 400.000
Total Money from Loans: $ 1,128,500

Total Annual Debt Service from the Loans: $ 88,866

----------------.......-------------..----------------...-

For 1999, Douglas County's appraised value of all the properties in the disttict
is $ 1,953,686. The minimum mill rate needs to be: 45.5 mills to pay this off
with no excess.

We should charge 55 mills at the start.
The district will have $ 107,452 revenue. So a yearly excess of $ 18,587 from taxes!
By the year 2008, we could have 65% of Phase II consuuction cost saved.

---------------------------------

Estimated dollar requirement for Chatfield South Water Disttict to come up with will be,
Expenditures to stan: $ 1,1.56,000
Total Loans to the District - $ 1.128.500
Start up Capital required: $ 27,500

If we charge as 600.00 lap fee, from 90 initial taps, we will get

from the SO founding membeIs:
from the SO regular taps:

(SO x $50)
(50 x $600)

$ 2,500
$ 30.000
S 32,500

page 3

P.04

,

e

e

e