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<br />I . <br /> <br />. <br /> <br />. <br /> <br />Agenda Item 29m <br />November 4, 1994 <br /> <br />3 <br /> <br />STAFF RECOMMENDATION (at the November 4. 1994 Board meeting): <br /> <br />1. That a construction fund loan in an amount of $750,000 (not to exceed 75% of <br />the total project cost) be approved for the Town of Palisade to replace the Town's <br />Cottonwood Creek pipeline, and <br /> <br />2. That this loan shall be contingent upon completion of the feasibility study, and <br />a finding that the selected project is feasible, and <br /> <br />3. That the fmancing terms shall be at an annual percentage rate of 4.0% and for <br />a duration of 30 years, and <br /> <br />4. That loan approval shall be contingent upon staff evaluation of the Town's <br />financial condition and ability to pay, and upon all standard contracting provisions <br />of the CWCB, and <br /> <br />ACTION TAKEN BY THE CWCB NOVEMBER 4. 1994: <br /> <br />The CWCB approved the revised staff recommendation exactly as presented at the <br />November 4,1994 board meeting. <br /> <br />Attachment <br />C:\wp51\john\29m.nov <br />