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I I I I I I I I I I I Headeate Flow 1\leasurement l!rnJ 1. Construction Costs 2. Engineering Fees 3. Contingency @ 10 % Estimated Cost S 159,250 S 25,000 S 15,925 S 200,175 TOTAL TOTAL ALL STRCCTURES $ 499,775 The expected fund requirement schedule for the project, with an estimated project total cost of $500,000. is as shown below. YEAR FUND REQUlRE~IEl\T SCHEDULE I OWL CREEK 10% FUNDS I CWCBLOAN 2000 S 29,960 $ 269,640 200! S 20,Q.l0 S 180,383 F1N'\'\'CIAL PLAN The Owl Creek Supply & Irrigation Company proposes to apply for a 90% loan equal to $450,000 from the Colorado Water Conservation Board (eWeS) for 30 years at 4.0% interest. The remainder of the project cost and the loan payments would be paid by an increase in assessments on the shares of stock. Revenue for operations and payment of loans is derived from assessments on 996.5 shares of outstanding stock. Assessments are presented to stockholders and approved at the annual slOckholders meeting held in January of each year. The 1998 assessment was S50.00 per share and the 1999 assessment was raised [Q $70 per share in anticipation of the proposed project. The financial condition of me company is solid at me present time. The company has no orher obligations other than those listed in the fmancial statement found in Appendix E and has 543,159 in me bank at the end of 1999 fiscal year. This reserve amounts [0 approximately 87 % of their yearly assessments. There are no current long term loan obligations. Table 3 shows the cash flow and annual financial schedule for the Company's operations which includes me proposed 5450,000 CWeB loan at -tOO% interest over a 30.year repayment period. Ov..'1 Creek Feasibility Page I 7