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<br />Central Colorado WCD <br />November 19-21, 2003 <br /> <br />Agenda Item Be <br />(Updated November 21, 2003) <br /> <br />Recommendation <br />Staff recommends a follow-up CWCS Small Project loan from the Construction fund in <br />amount up to $5,000,000 ($4,950,495 for project costs and $49,505 for the 1 % Loan <br />Service Fee, in accordance with CWCS Loan Policy #16) to the Ground Water <br />Management Subdistrict of the Central Colorado Water Conservancy District. The loan <br />is for up to 90% of the costs of a project to purchase senior water rights and to construct <br />water storage and recharge facilities for augmentation purposes. The recommended <br />loan terms are 30 years at 2.5% (2.58% Annual Percentage Rate). Security for the loan <br />will be a pledge of tax revenues backed by rate covenant, in accordance with CWCS <br />Loan Policy #5. <br /> <br />Staff further recommends that final approval of the loan be conditioned upon standard <br />contracting provisions of the CWCS. <br /> <br />Action taken bv the CWCB November 20. 2003 <br />The CWCS approved the Staff Recommendation with the revisions shown above (total <br />loan amount is $5,000,000 of which $4,950,495 is for project costs and $49,505 is for <br />the 1 % Loan Service Fee. Groundwater was revised to Ground Water.) <br /> <br />cc: Tom Cech, GMS-CCWCD <br />Linda Sassi, AGO <br /> <br />Attachment <br /> <br />C:\CCWCD 1103 memo <br /> <br />L:\wetrans\boardmem\nov03\ Be - Central Colorado WCD <br /> <br />6 <br />