C150009 Feasibility Study

• Contract/PO #: C150009
• Contractor Name: Boulder & Left Hand Irrigation Company, The
• Contract Type: Loan
• Water District: 5
• County: Boulder
• Bill Number: SPL
• Loan Projects - Doc Type: Feasibility Study

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Boulder and Left Hand Repair of Outlet Works
CWCBFeasibilityStudy
NovemberS, 1999

Company also has approximately $29,000 in money market and mutual funds that are available to
finance this project.

A cash flow analysis for a $100,000 Small Project Loan at a 3.75 percent interest rate over a 20 year
repayment period is included on Table 8 for this project. For the analysis, it was assumed that the
Small Project Loan money would be available in 2000 with repayment beginning in 2001, Annual
debt service for the loan amounts to $7,196 or $52,91 per share ($7,196/136 shares) or an average of
$2.78 per acre-foot per year of average annual irrigation water diverted ($7,196/2,584 acre-feet), The
maximum annual assessment for all costs related to this project is $71,26 per share, The column
entitled "Cash Payment" is the amount of the anticipated costs which would not be provided by the
Small Project Loan and would likely come from cash reserves,

Collateral

The Ditch Company has the following collateral it can offer for the CWCB loan:

1, Pledge a revenue stream flow from Ditch Company assessments,

2, The project itself, The project will be owned by the Ditch Company and can be offered by
vote of the Board of Directors,

3, Twin Lakes and the surrounding property, totaling 42 acres,

4, The storage rights associated with Twin Lakes,

Institutional Considerations

The Ditch Company may need to obtain an approving vote of the shareholders to contract for the loan
and to increase the annual assessments to service the loan, The only contracts, agreements, Court
actions, or permits necessary for the construction of the project are a loan contract with the CWCB,
and a construction contract with the contractor,

Ouinion of Feasibilitv

The seiected alternative is technically and financially feasible, There are no significant road blocks
which would keep the Boulder and Left Hand Ditch Company from successfully completing this
project.

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