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<br />~ <br /> <br />STAFF RECOMMENDATIONS: <br />Staff recommends that the Board approve an increase of $17,261 ($17,090 for project costs and <br />$171 for the 1% loan origination fee, in accordance with CWCB Loan Policy No. 16) from the <br />Severance Tax Trust Fund Perpetual Base Account. The additional $17,261 increment of funding <br />would be for 30-years at the present lending rate of2.5%. Security for the loan will be collateral in <br />accordance with CWCB loan policy #5 (a first lien on real estate with a total value equal to or <br />greater than the CWCB loan amount). <br /> <br />Staff further recommends that final approval of the loan be conditioned upon all standard- <br />contracting provisions of the CWCB. <br /> <br />ACTION TAKEN BY THE CWCB BOARD ON MARCH 22. 2005 <br />Board approved staff recommendation. <br /> <br />4 <br />