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<br />r->"" <br /> <br />~ <br /> <br />"" <br /> <br />the Construction Fund. Construction Fund financing, if it were approved by the Board, <br />might be over a period of two years. <br /> <br />I indicated that some of the concerns that our Board might have would be an assurance of <br />a complete financing package with commitment by other funding agencies, an election <br />with disclosure as to amounts of indebtedness to be incurred, use of GO bonds as opposed <br />to revenue bonds, and some explanation as to participation or lack of participation in <br />development costs by Leprino and Excel, the two major industrial water users. I also <br />indicated that any application for new lending from the Construction Fund would be <br />subject to a detailed financial feasibility analysis. <br /> <br />cc: Chuck Lile <br />Peter Evans <br />Bill Stanton <br />