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Ii! Tape 3, Track 2 00:01:27 - 00:08:41 Action: Informational item only, no action taken. . 8a. Water Supply Planning and Finance Section - New Project Loans - Lincoln Park Crooked Ditch Company - Crooked Ditch Rehabilitation Project Tape 2, Track 2 00:37:15 - 00:54:20 Action: A motion was made by Harold Miskel and seconded by Don Schwindt to approve staff's recommendation that the Board approve a loan not to exceed $1,818,000 ($1,800,000 for project costs and $18,000 for the 1% Loan Service Fee in accordance with CWCB Loan Policy #16), to the Lincoln Park Crooked Ditch Company from the Construction Fund, to rehabilitate their existing piped irrigation ditch. The recommended terms of the loan are 30 years at 3.25% per annum. Security for the loan will be a pledge of assessment revenues backed by a rate covenant, and the project itself, including the water rights associated with or decreed to Lincoln Park Crooked Ditch Company, and their interest in the South Canon Ditch. The final approval of the loan is to be conditioned upon all other standard contracting provisions of the CWCB. The motion was approved unanimously (10-0). 8b. Water Supply Planning and Finance Section - New Project Loans -Ovid Reservoir Company - Land and Water Rights Purchase Tape 2, Track 2 00:54:20 - 01 :35 :09 Action: Infonnational item only, no action taken. 9a. Water Supply Planning and Finance Section - Revisions to Existing Loans- Consolidated Mutual Water Company - Request for Deferral Tape 2, Track 2 01 :35:09 - 01 :43:41 Action: A motion was made by Barbara Biggs and seconded by Eric Wilkinson to approve staff's recommendation that the Board approve the Consolidated Mutual Water Company's request for financial relief by granting a five year deferment of principal, with interest only payments for years 2007 through 2011. The interest rate shall be increased from 4.85% to 5.10% on the Amendment 1 amount and 5.50% to 5.75% on the Amendment 2 amount. The increased interest rate will be retroactive, starting on March 1, 2006 on the remaining balance, which will be reflected in the new amortization schedule with the first full annual payment in March 2012. In addition, the Company shall pay a $1,000 contract amendment fee as required by CWCB Financial Policy #16. Harold Miskel was not present for the vote. The motion was approved unanimously (9-0). . 9b. Water Supply Planning and Finance Section - Revisions to Existing Loans - Lower Bauer West Lateral- Ditch Rehabilitation Project Tape 2, Track 2 01:43:41- 01:47:33 Action: A motion was made by Don Schwindt and seconded by Travis Smith to approve staff's recommendation that the Board approve an increase of$35,350 ($35,000 for project costs and $350 for the 1 % loan origination fee, in accordance with CWCB Financial Policy No. 16) from the Severance Tax Trust Fund Perpetual Base Account for the Lower Bauer West Lateral Company reconstnlction project. The additional $35,350 increment of funding would be for 30-years at . Flood Protection. Water Supply Planning and Finance. Stream and Lake Protection Water Supply Protection .:Conservation and Drought Planning , 4