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<br />The cambined average 1990 median hausehald incame far Firestone and Frederick is k- <br />$31,685, which indicates the Municipal Middle Incame lending rate. Far the year 2000, 1\ <br />the rate wauld be 5.00 percent for a 30-year laan term. ~ "t-gl'" <br />\ 1 ~ ~l <br />Recommendation n ~\).,. V <br />/ r ttlft <br />Staff recammends that the Baard request a canditianal Canstructian Fund loan <br />autharization of $730,000 far the regional storm water detentian pand praject afthe Weld <br />County Tri-Area Sanitatian District as described in this memorandum. The laan wauld be <br />far a term af30 years at the Municipal Middle Incame lending rate of5.00 percent. As <br />security far the laan, the starm water enterprise fund will affer a pledge af revenues <br />backed by a rate covenant and annual financial reporting <br /> <br />Staff further recammends that: <br /> <br />1. Finallaan appraval will be canditioned upon the District's ability to. demanstrate <br />to. the Baard's satisfactian that the propased praject is fmancially feasible. <br /> <br />2. The autharizatian will nat cammit the Calarada Water Canservatian Baard to. <br />providing any additianal funding far the praject. <br /> <br />3. The baards af directars afthe Weld Caunty Tri-Area Sanitatian District and the <br />District's starm water enterprise fund will adapt resolutians . appraving the laan <br />and the pledge af revenues. <br /> <br />4. Any lo.an resulting fram this autharizatian shall have parity status with any <br />existing ~afthe starm water enterprise fund with respect to. a <br />pledge af revenues. ol' <br /> <br />Attachments <br /> <br />Cc: Anthany Onarata, WCT ASD <br />Rick Pattersan, Mayor, Tawn afFirestane <br />Edward Tagliente, Mayar, Tawn afFrederick <br />Dan Law, Water & Pawer <br />Dan Silar, Sear-Brawn <br />LindaBassi, AGO <br /> <br />5 <br />