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<br />Consolidated Home Supply Ditch and Reservoir Co. Agenda Item 16a. <br />September 24.25,2001 (Updated September 26,2001) <br /> <br />Recommendation <br />Staff recommends that the CWCS find that Consolidated Home Supply Ditch and Reservoir <br />Company is eligible for a loan from the Emergency Infrastructure Repair Account because <br />"..,the project is necessary to avoid unreasonable risk of injury or damage to human health or <br />well-being or to property or crops, and because the emergency condition is not the result of <br />negligence in the operation or maintenance of the infrastructure, "The Mariano Dam is a Class I <br />structure, has had a slide on the downstream slope, and can not be used to full capacity for <br />storage, The Company is unable to deliver water from this reservoir to its shareholders for <br />irrigation, Delaying the project until summer or fall 2002 would jeopardize crops, <br /> <br />Staff recommends a Loan from the Emergency Infrastructure Repair Account not to exceed <br />$943,000 lathe Consolidated Home Supply Dltch and.ReserYoirCompanytorehabili1atelhe <br />Mariano Dam, The recommended term ofthe loan is 30 years and the recommended lending <br />rate is 3,5%, Security for the loan will be a pledge of assessment revenues backed by <br />assessment covenant and the project itself, <br /> <br />Staff further recommends that final approval of the loan be conditioned upon all other standard <br />contracting provisions of the CWCS. <br /> <br />Action taken bv the CWCS September 25. 2001 <br />The CWCS approved the Staff Recommendation. <br /> <br />cc: Randy Starr, PO Box 642, Loveland, CO 80539-0642 <br />Colby Hayden, Rocky Mt. Consultants, 825 Delaware Ave" Longmont, CO 80501 <br />Linda Bassi, AGO <br /> <br />Attachment <br /> <br />C:\WP51\Proj-New\ConsolidatedHome901 memo; <br /> <br />L:\boardmem\Sept01\16a Sept01 Consolidated Home <br /> <br />5 <br />