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<br />. ,- <br />- <br /> <br />Agenda Item 17h. <br />November 24, 1997 <br />Page 3 <br /> <br />(Updated December 3, 1997) <br /> <br />3. That the financing terms for this Construction Fund Authorization (total amount of <br />$955,000) shall be at an annual percentage rate equal to the "Standard Income" rate for <br />a municipality (as set by the CWCB November 24 1997), for a duration of 30 years, and <br /> <br />4. That loan approval shall be contingent, and upon all standard contracting provisions of <br />the CWCB, as determined by the CWCB Director, and <br /> <br />5. That security for the loan ($955,000) shall be a collateral interest in the stream of income <br />derived by the City's water enterprise, from the sale of water, and a certificate of <br />deposit in amount of one annual payment. <br /> <br />Action Taken by the CWCB November 24. 1997: <br /> <br />The CWCB approved the Staff Recommendation as presented above. The interest rate will <br />be 5%. <br /> <br />Attachments <br />D: \mswordlldahoSprings97 .memo <br />