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City of Louisville
<br />Lease Payable
<br />City of Greeley, Colorado
<br />The lease with option to purchase is for three units of Windy Gap Water. The lease required
<br />a front-end payment of $788,000 on November 1, 1994 with subsequent payments,
<br />subject to annual appropriations, on or before April 1. The lease was capitalized at the
<br />present value of $708,457.
<br />Year
<br />Interest Principal Total Principal
<br />Amount Amount Payment Balance
<br />1996 $669,044.95
<br />1997 47, 725.99 15,156.25 62, 882.24 653, 888.70
<br />1998 46,659.34 16,156.25 62,815.59 637,732.45
<br />1999 45, 511.81 17, 312.50 62, 824.31 620, 419.95
<br />2000 44, 262.65 18, 562.50 62, 825.15 601, 857.45
<br />2001 42, 903.46 19, 937.50 62, 840.96 581, 919.95
<br />2002 41,423.28 21,437.50 62,860.78 560,482.45
<br />2003 39,829.03 23,031.25 62,860.28 537,451.20
<br />2004 38,109.03 24,750.00 62,859.03 512,701.20
<br />2005 36, 240.09 26, 562.50 62, 802.59 486,138.70
<br />2006 34, 232.28 28, 593.75 62, 826.03 457, 544.95
<br />2007 32, 068.62 30, 812.50 62, 881.12 426, 732.45
<br />2008 29,721.21 33,125.00 62,846.21 393,607.45
<br />2009 27,195.35 35,625.00 62,820.35 357,982.45
<br />2010 24,477.54 38,343.75 62,821.29 319,638.70
<br />2011 21,551.72 41,281.25 62,832.97 278,357.45
<br />2012 18,397.97 44,437.50 62,835.47 233,919.95
<br />2013 15, 002.19 47, 843.75 62, 845.94 186, 076.20
<br />2014 12,150.00 50,687.50 62,837.50 135,388.70
<br />2015 9,128.13 53,750.00 62,878.13 81,638.70
<br />2016 5,923.44 57,750.00 63,673.44 23,888.70
<br />2017 3,035.94 23, 888.70 26, 924.64 0.00
<br />TOTAL
<br />$615,549.03 $669,044.95 $1, 284, 593.98 $0.00
<br />Note: These amounts are approximations based on the amortization schedule of the
<br />debt. Actual amounts equal the annual payment of debt service on three units of Windy
<br />Gap Water billed to Greeley by the Municipal Subdistrict of the Northern Colorado
<br />Water Conservancy District.
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