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<br />-" <br /> <br />. <br /> <br />. <br /> <br />~ <br /> <br />'" <br /> <br />Agenda Item 29i. <br />November 4, 1994 <br /> <br />2 <br /> <br />The reservoirs scheduled for repair have a combined total capacity of approximately 65,000 acre <br />feet. <br /> <br />DISCUSSION <br /> <br />The feasibility study is underway at the time. Loan approval should be contingent upon a <br />fmding that the selected project alternative is feasible. <br /> <br />In 1993 the Company was granted an emergency loan ($300,000) to repair a slide on the Poudre <br />Valley Canal. That project was successfully completed, and the canal placed back in service. <br /> <br />This project will resolve safety problems with several class I dams owned by the company. <br /> <br />Rehabilitation of reservoir outlet structures will require plans anspecificatioDS approved by the <br />State Engineer. <br /> <br />(Company representatives, and their consultant, will be present at the November CWCB board <br />meeting to answer questions.) <br /> <br />STAFF RECOMMENDATION (as mailed to Board members): <br /> <br />The staff recommends: <br /> <br />1, That a construction fund loan in an amount of $750,000 (not to exceed 75 % of the <br />total project cost) be approved for the Windsor Reservoir and Canal Company, for canal <br />lining and for rehabilitation of canal and reservoir structures, and <br /> <br />2. That the financing terms shall be 5.5% annual percentage rate, for a duration of 30 <br />years, and <br /> <br />3. That loan approval shall be contingent upon completion of the feasibility study, and <br />upon the determination that the selected project alternative is feasible, and <br /> <br />4. That loan approval shall be contingent upon staff evaluation of the Company's <br />financial condition and ability" to pay, and upon all standard contracting provisions of the <br />CWCB. <br />