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<br />..... <br />L~ ~ <br /> <br />Agenda Item 29r. <br />November 4, 1994 <br /> <br />3 <br /> <br />2. That this loan shall be contingent upon completion of the feasibility study, <br />and a finding that the selected alternative is feasible, and <br /> <br />3. That the financing terms shall be at an annual percentage rate of 5.0% <br />and for a duration of 30 years, and <br /> <br />4. That loan approval shall be contingent upon staff evaluation of the City's <br />financial condition and ability to pay, and upon all standard contracting <br />provisions of the CWCB, and <br /> <br />5. That the loan shall be contingent upon the City being UNABLE to obtain <br />financing through the Colorado Water Resources and Power Development <br />Authority. <br /> <br />ACTION TAKEN BY THE CWCB NOVEMBER 4. 1994: <br /> <br />1. Approved a line item in the construction fund bill in an amount vet to be <br />determined (not to exceed 75% of the total project cost) for the City of Fort <br />Lupton, to construct two new wells, (THE BOARD REQUIRED THAT A <br />MORE DETAILED COST ESTIMATE BE PRESENTED AT THE <br />JANUARY BOARD MEETING, SO THAT THE BOARD COULD <br />EST ABLISH THE ACTUAL LOAN AMOUNT) and <br /> <br />2. Required that this loan shall be contingent upon completion of the <br />feasibility study, and a finding that the selected alternative is feasible, and <br /> <br />3. Established financing terms at an annual percentage rate of 5.0% and for <br />a duration of 30 years, and <br /> <br />4. Required that loan approval shall be contingent upon staff evaluation of <br />the City's financial condition and ability to pay, and upon all standard <br />contracting provisions of the CWCB, and <br /> <br />5. Required that the loan shall be contingent upon the City being UNABLE <br />to obtain financing through the Colorado Water Resources and Power <br />Development Authority. <br /> <br />Attachments <br />C:\wp51 \john\29r.nov <br />