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<br />1IIf"'-~, .. <br /> <br />Agenda Item 18g. <br />November 6, 1995 <br /> <br />3 <br /> <br />STAFF RECOMMENDATION <br /> <br />The staff recommends: <br /> <br />1. That a construction fund loan in an amount of $500,000, be approved for <br />Wadley Farms, Filing 3, Homeowners Association and/or the Wadley Farms Special <br />District (not to exceed 75% of the total project costs), to rehabilitate Wadley Dams <br />#1, #2, and #3, and <br /> <br />2. That the financing terms shall be at an annual percentage rate equal to the <br />"Standard Income" rate for a Municipality, as set by the Board November 6, 1995, <br />for a duration of 30 years, and <br /> <br />3. That loan approval shall be contingent upon completion of the feasibility study, <br />and upon all standard contracting provisions of the CWCB, as determined by the <br />CWCB Executive Director. <br /> <br />Action Taken by the CWCB. November 7.1995 <br /> <br />The CWCB approved the Staff Recommendation with an interest rate of 5.25%, and <br />for a duration of 30 years. <br /> <br />Attachments <br />C: \wp51 \PROJ-NEW\18g.nov <br />