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<br />Young Creek Reservoir Company <br />September 14-15, 2004 <br /> <br />Agenda Item 4c <br /> <br />Recommendation <br /> <br />Staff recommends a loan not to exceed $197,354 ($195,400 for project costs and $1,954 for the 1% <br />Loan Service Fee in accordance with CWCB Loan Policy #16) to the Young Creek Reservoir <br />Company, from the Severance Tax Trust Fund Perpetual Base Account, to perform initial rehabilitation <br />on its Reservoir #1'-2 dam, and to pay expenses already incurred. The recommended terms of the <br />loan are 30 years at 2.50% per annum. Security for the loan will be collateral in compliance with <br />CWCB Loan Policy #5 (Collateral). <br /> <br />Staff further recommends that final approval of the loan be conditioned upon all other standard <br />contracting provisions of the CWCB. <br /> <br />cc: Robert Morris, President, Young Creek Reservoir Company <br />Mike Smith, P.E., Smith Williams Consultants, Inc. <br />Amy Stengel, AGO <br /> <br />Attachment <br /> <br />Action Taken bv the CWCS on September 14. 2004 <br />The CWCB approved the Staff Recommendation. <br /> <br />Page 5 of 5 <br />