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<br />.X"- <br /> <br />Agenda Items 19c, 19d, 19f <br />January 25, 1995 <br /> <br />2 <br /> <br />Agricultural Shares <br />60.5% of the total number of shares of both companies are used for Agricultural purposes. The <br />interest rate for the Agricultural shares would be 4.0%. <br /> <br />The weighted average rate is 4.6% as follows: <br /> <br />(39.5%/100) (5.5%) + (60.5%/100) (4.0%) = 4.6% <br /> <br />STAFF RECOMMENDATION #1 <br /> <br />The staff recommends: <br /> <br />That the interest rate for loans to the Lower Clear Creek Ditch Company and to the <br />Colorado Agricultural Ditch Company shall be a 4.6% annual percentage rate. <br /> <br />ACTION TAKEN BY THE CWCB JANUARY 25. 1995: <br /> <br />The CWCB approved the staff recommendation as presented. <br /> <br />2) Goodhue Ditch and Reservoir Company <br /> <br />This Construction Fund Loan was approved by the Board. in November, in amount of $19,000. <br />The purpose is the replacement of the Marshall.Flume. <br /> <br />ACTION TAKEN BY THE CWCB NOVEMBER 4.1994: <br /> <br />The CWCB approved the staff recommendation, with the exception of the interest rate on the <br />loan. The Board decided to establish an interest rate based on the weighted average of <br />agricultural and municipal water delivered by the ditch. The following calculation was <br />performed by staff on 11/9/94: <br /> <br />Municipal Shares <br />Louisville (MHI $43,379) <br />Lafayette (MHI $34,182) <br />Superior Metro <br /> <br />900.957 Sh <br />1003.19 Sh <br />15 Sh <br />