Tab 12 Letter of Approval in Lieu of Commitment AgreementDEPARTMENT OF NATURAL RESOURCES
AND CONSERVATION
STEVE BULLOCK, GOVERNOR 1625 ELEVENTH AVENUE
STATE OF MONTANA
DIRECTOR'S OFFICE: (406) 444-2074
FAX: (406) 444-2684
PO BOX 201601
HELENA, MONTANA 59620-1601
LETTER ER OFAPPROVAL FOR STATE REVOLVING FUND LOAN PROGRAM IN LIEU OF COMMITMENT
AGREEMENT
July 24, 2013
City of Kalispell
Dear Rick Wills:
The State of Montana, through its State Revolving Fund Program, has been approved by
the Environmental Protection Agency (the EPA) to make loans for Wastewater projects.
The purpose of this letter is to formally apprise you that the state has approved a loan to
the City of Kalispell in the amount of $242,000, which loan will be represented and secured by the
city's Wastewater System Revenue Bond in the amount of $242,000, payable over a term of 15
years at an interest rate of 3% per annum.
The Bond shall be issued pursuant to a Bond Resolution adopted by the city in
substantially the form of the Bond Resolution used by the city's Bond Counsel in previous
revolving fund loans, subject to appropriate references and changes for any currently outstanding
system revenue bonds.
The city should notify DNRC of its desired closing date on the loan and DNRC will work
with the city and its Bond Counsel to have the loan properly closed. We have included an
estimated loan payment schedule, and project budget.
Please do not hesitate to call if there are any questions or comments.
Very Truly Yours,
Anna M. Miller
Financial Advisor
Conservation and Resource Development Bureau
cc: Dan Semmens — Dorsey & Whitney
Paul LaVigne — DEQ
Joan Specking - DNRC
Kalispell -Willows SID $242,000 SRF File
Debbie Kuykendall — US Bank
AMM:jIs
DIRECTOR'S CONSERVATION & RESOURCE RESERVED WATER RIGHTS OIL & GAS TRUST LAND MANAGEMENT
OFFICE DIVISION COMPACT COMMISSION DIVISION DIVISION
(406) 444-2074 (406) 444-6667 G: WARDISRFARK44cm MF-Approval DrW"4W6415 Ka1ispe1l_Wi11g4WW
SRF-
Preliminary Schedule
STATE OF MONTANA
GENERAL OBLIGATION BONDS
WASTEWATER
(REVOLVING FUND PROGRAM)SER 12
BORROWER:
Kalispell -Willows SID
PROJECT NAME:
LOAN COMMITMENT:
$242,000
LOAN AMOUNT:
242,000
INTEREST RATE:
3.00%
FINAL LOAN PAYMENT: 1/1/2028
# OF LOAN PAYMENTS: 30
PROJECT NUMBER:
DATE OF FUNDING: 9/1/2013
PAYMENT
LOAN LOSS
ADM EXPENSE
INTEREST
PRINCIPAL
O/S LOAN
TOTAL AMOUNT
DUE
RESERVE
SURCHARGE
PAYMENT
PAYMENT
BALANCE
OF PAYMENT
1 I/l/2014
201.67
605.00
1,613.33
6,000.00
236,000.00
$8,420.00
$ 8,420.00
2 7/1/2014
295.00
885.00
2,360.00
7,000.00
229,000.00
$10,540.00
3 1/1/2015
286.25
858.75
2,290.00
7,000.00
222,000.00
$10,435.00
$ 20,975.00
4 7/1/2015
277.50
832.50
2,220.00
7,000.00
215,000.00
$10,330.00
5 1/1/2016
268.75
806.25
2,150.00
7,000.00
208,000.00
$10,225.00
$ 20,555.00
6 7/1/2016
260.00
780.00
2,080.00
7,000.00
201,000.00
$10,120.00
7 1/1/2017
251.25
753.75
2,010.00
7,000.00
194,000.00
$10,015.00
$ 20,135.00
8 7/1/2017
242.50
727.50
1,940.00
7,000.00
187,000.00
$9,910.00
9 I/l/2018
233.75
701.25
1,870.00
7,000.00
180,000.00
$9,805.00
$ 19,715.00
10 7/1/2018
225.00
675.00
1,800.00
7,000.00
173,000.00
$9,700.00
11 1/1/2019
216.25
648.75
1,730.00
7,000.00
166,000.00
$9,595.00
$ 19,295.00
12 7/1/2019
207.50
622.50
1,660.00
8,000.00
158,000.00
$10,490.00
13 1/l/2020
197.50
592.50
1,580.00
8,000.00
150,000.00
$10,370.00
$ 20,860.00
14 7/I/2020
187.50
562.50
1,500.00
8,000.00
142,000.00
$10,250.00
15 I/1/2021
177.50
532.50
1,420.00
8,000.00
134,000.00
$10,130.00
$ 20,380.00
16 7/1/2021
167.50
502.50
1,340.00
8,000.00
126,000.00
$10,010.00
17 l/l/2022
157.50
472.50
1,260.00
8,000.00
118,000.00
$9,890.00
$ 19,900.00
18 7/l/2022
147.50
442.50
1,180.00
8,000.00
110,000.00
$9,770.00
19 1/1/2023
137.50
412.50
1,100.00
8,000.00
102,000.00
$9,650.00
$ 19,420.00
20 7/l/2023
127.50
382.50
1,020.00
9,000.00
93,000.00
$10,530.00
21 1/l/2024
116.25
348.75
930.00
9,000.00
84,000.00
$10,395.00
$ 20,925.00
22 7/l/2024
105.00
315.00
840.00
9,000.00
75,000.00
$10,260.00
23 l/l/2025
93.75
281.25
750.00
9,000.00
66,000.00
$10,125.00
$ 20,385.00
24 7/l/2025
82.50
247.50
660.00
9,000.00
57,000.00
$9,990.00
25 l/1/2026
71.25
213.75
570.00
9,000.00
48,000.00
$9,855.00
$ 19,845.00
26 7/l/2026
60.00
180.00
480.00
9,000.00
39,000.00
$9,720.00
27 l/l/2027
48.75
146.25
390.00
9,000.00
30,000.00
$9,585.00
$ 19,305.00
28 7/l/2027
37.50
112.50
300.00
10,000.00
20,000.00
$10,450.00
29 l/l/2028
25.00
75.00
200.00
10,000.00
10,000.00
$10,300.00
$ 20,750.00
30 7/1/2028
12.50
37.50
100.00
10,000.00
0.00
$10,150.00
$ 10,150.00
4,917.92
14,753.75
39,343.33
242,000.00
301,015.00
301,015.00
Div by 87
Div by 87
$2,781.61
$3,459.94
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