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<br />. . <br /> <br />. <br /> <br />. <br /> <br />Agenda Item 9p-2 <br />November 9, 1993 <br />Page two <br /> <br />STAFF RECOMMENDATION <br /> <br />The staff recommends: <br /> <br />1. THAT A CONSTRUCTION FUND LOAN IN AMOUNT OF $94,000 ( 4% for <br />30 YEARS) BE APPROVED FOR THE TOWN OF MONUMENT, FOR THE <br />REPLACEMENT OF MUNICIPAL WELL #2, and <br /> <br />2. THAT THIS LOAN APPROVAL BE CONTINGENT UPON EVALUATION <br />OF THE TOWN'S FINANCIAL CONDmON AND ABILITY TO PAY. <br /> <br />ACTION TAKEN BY THE CWCB BOARD <br /> <br />On November 9, 1993 the CWCB Board took the following action, which was the <br />same as the staff recommendation: <br /> <br />1. Approved A CONSTRUCTION FUND LOAN IN AMOUNT OF $94,000 ( 4% <br />for 30 YEARS) FOR THE TOWN OF MONUMENT, FOR THE REPLACEMENT <br />OF MUNICIPAL WELL #2, and <br /> <br />2. Required THAT THIS LOAN APPROVAL BE CONTINGENT UPON <br />EVALUATION OF THE TOWN'S FINANCIAL CONDITION AND ABILITY TO <br />PAY, and <br /> <br />3. Required that the loan approval be contingent upon the Town asserting that <br />alternate financing was not reasonably attainable. <br /> <br />Note: On 11/15/93 the Town requested that alternate terms of 15 years at 3% be approved. <br />L This matter will be considered at the January CWCB Board meeting. <br />~~~ /-/8-94 fJM- JVS - qCtx;j4%/ 2o~ <br /> <br />Attachments <br />C:\wpSl\9p2119.cwc <br />