Project financing


The United States Department of Agriculture (USDA) finances SVMWC’s system infrastructure improvements.


In October 2011, the USDA awarded SVMWC a loan in the amount of $3,979,180 to finance the 2010–2013 construction projects. The loan bears an interest rate of 3.75% to be paid in semi-annual installments over a period of 40 years and is collateralized by SVMWC’s real property.

Future loan principal payments will be:

For the year ending June 30 Amount
2022 $72,091
2023 $76,738
2024 $79,665
2025 $82,704
2026 $85,859
Thereafter $ 2,770,140



During 2020, SVMWC signed a promissory note with CoBank to finance the construction project that started in 2020, which is classified as a USDA Rural Development Project.  The note’s terms are:

  • Between May 12, 2020 and July 31, 2024, SVMWC may draw funds from the note in an aggregate principal amount not to exceed $4,223,660.
  • Collateralized by SVMWC’s real property.
  • Variable interest rate of monthly LIBOR resetting weekly, plus 1.75%.
  • No payments are due until the project ends and the USDA pays CoBank pursuant to USDA Loan #2.
  • SVMWC may draw amounts when needed to pay for construction expenses. CoBank must receive approval by the USDA prior to extending the funds request by SVMWC.

As of June 30, 2021, SVMWC had borrowed $304,971.


SVMWC signed an agreement with the USDA stipulating that at the end of the USDA Rural Development Project, the USDA will repay the balance of the interim-financing promissory note extended by CoBank, including interest, and a 40-year promissory note will begin at the lessor of the then interest rate or 3.5%.

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Daniel Collin
Office Manager
PO Box 2276
Olympic Valley, CA 96146
Phone: (530) 583-3674
Fax: (530) 583-0677
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Olympic Valley Public Service District – Maintenance & Operations

PO Box 2026

Olympic Valley, CA 96146

Monday–Friday 8AM–5PM:
(530) 583-4692
Monday–Friday 5PM–8AM, weekends, holidays:
(866) 411-6917