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<br />V? <br />C) <br />0) <br />,~ <br />i....:':' <br />r- <br />......-, <br /> <br />Agenda Item 11 <br />Page three <br /> <br />Traditionally, the board has taken an ownership interest, <br />usually represented by a deed, to provide security. Recently, <br />the statute as cited above, was amended at the board's request <br />to broaden the forms of security that could be obtained. The <br />change was a recognition that facility ownerShip might not be <br />sufficient security and could entail some liability. <br /> <br />In this instance, there is no other form of security <br />available. The board's advice on whether or not ownerShip <br />security is adequate and appropriate in the Platoro purchase <br />will be appreciated. <br /> <br />In the other facets of the contract, the various conditions <br />appear to provide sufficient safeguards to assure a reasonable <br />approach to loan repayment. <br /> <br />Imla <br />attachment <br />