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<br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />Agenda Item 4d. <br />March 12, 1996 <br /> <br />3 <br /> <br />4. That the loan can be used to refinance project costs, as detennined by the <br />CWCB Director, and <br /> <br />5. That loan approval shall be contingent upon completion of the feasibility <br />study, and upon all standard contracting provisions of the CWCB, as <br />determined by the CWCB Director, and <br /> <br />6. That security for the loan shall be a collateral interest in the stream of <br />income derived from shareholder assessments, and from Pioneer Water and <br />Irrigation, Inc. <br /> <br />Action Taken bv the CWCB. March 12.1996 <br /> <br />The CWCB approved the Staff Recommendation, revising recommendation 6. to the <br />following: <br /> <br />6. That security for the loan shall be a collateral interest in the stream of <br />income derived from shareholder assessments, and from annual running fees <br />charged to Pioneer Water and Irrigation, Inc. <br /> <br />Attachments <br />C:\wp51 \PROJ.NEW\4d.mar <br />