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<br />. <br /> <br />. <br /> <br />Agenda Item 15a. (Updated July 22, 1997) <br />July 21, 1997 <br /> <br />4 <br /> <br />COLLATERAL <br /> <br />Mr. Preisser owns land and other personal property which can be used as collateral for the <br />CWCB loan. <br /> <br />STAFF RECOMMENDATION <br /> <br />The staff recommends: <br /> <br />1. That a construction fund loan in an amount of $90,000, be recommended for <br />Rodney Preisser, to purchase water rights, and <br /> <br />2. That the financing terms shall be at an annual percentage rate of 4.1%, for a <br />duration of 30 years, and <br /> <br />3. That loan approval shall be contingent upon completion of the feasibility study, <br />and upon all standard contracting provisions of the CWCB, as determined by the <br />CWCB Director, and <br /> <br />4. That security for the loan shall be an interest in real state, or other property, of <br />value at least equal to the loan amount, and <br /> <br />5. That the loan be contingent upon an appraisal of the water rights to be <br />purchased, and <br /> <br />6. That sale of portions of Preisser's land and water rights to Bell Farms be <br />allowed, without calling the CWCB loan due. <br /> <br />Action Taken bv the ewCR Julv 21. 1997 <br /> <br />The CWCB approved the Staff Recommendation, but, in relation to Recommendation <br />#1, specified that Board action was to aoorove the loan (not just recommend), and that <br />the loan will be made from the Horse Creek Basin Account. <br /> <br />Attachments <br />C:\wp51 \PROJ-NEW\ 15a.jul <br /> <br />\. <br />