Laserfiche WebLink
<br />Low Line Ditch Company <br />March 24-26, 2003 <br /> <br />Agenda Item 25a <br />(Updated March 28, 2003) <br /> <br />Recommendation <br />Staff recommends that the existing CWCS Small Project Loan to the Low Line Ditch Company <br />be increased from $94,500 up to $159,750 to allow additional financing to rehabilitate the <br />Company's diversion structure on the South Platte River. The recommended term of the loan is <br />20 years at 2.5% (2.61 % Annual Percentage Rate.) Security for the loan will be in compliance <br />with CWCS Loan Policy #5 (Collateral). The loan will be funded from the Construction Fund. <br /> <br />Staff further recommends that final approval of the loan be conditioned upon all other standard <br />contracting provisions of the CWCS, including the 1 % loan service fee charged in accordance <br />with CWCS Policy #16. The maximum loan amount may be increased to $161,347.50 if the <br />borrower elects to finance the 1 % loan service fee. <br /> <br />Action taken bv the CWCS March 26, 2003 <br />The CWCS approved the Staff Recommendation. <br /> <br />cc: Steve Kaiser, Low Line Ditch Co. <br />Brent Nation, P.E. <br />Linda Bassi, AGO <br /> <br />Attachment <br /> <br />C:Proj-NewILowLine 303 memo: <br /> <br />L:\boardmemIMarch03\25a - Low Line Ditch <br /> <br />4 <br />