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<br />218 <br />I <br />i <br /> <br />. The term of the loan would be for 40 years with annual payments of $67,200 in years one through <br />ten and the staff strongly recommends that the loan would yield an effective rate of return to the <br />Construction Fund of3.0 percent over 40 years. As collateral, LAWMA will pledge revenues <br />obtained from member assessments and all shares of stock in the HigWand and Fort Bent <br />companies acquired with the proceeds of the loan. <br /> <br />. <br /> <br />. <br /> <br />Since staff has not yet received the final feasibility report from LA WMA, all of the foregoing <br />should be conditioned upon staff review of the report and a final detennination of feasibility by <br />the Director of the CWCB. <br /> <br />cc: William Grasmick, LA WMA <br />Don Higbee, LA WMA <br />Amelia Whiting, Moses, Wittemeyer, Harrison and Woodruff <br />Duane Helton, Helton & Williamsen <br />Linda Bassi, AGO <br /> <br />Attachments <br /> <br />7 <br />