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<br />. <br /> <br />. <br /> <br />. <br /> <br />11 n. Summit Reservoir and Irrigation Company - Summit Ditch System Rehabilitation <br />Tape 2: Start/Stop: 2317 - 2339 <br />Action: The staff recommended continuation of this project authorization for <br />another year. <br />110. City of Victor - Victor Reservoir #2 Dam Rehabilitation <br />Tape 2: Start/Stop: 2340- 2356 <br />Action: Staff recommended continuation of this project authorization for another <br />year. <br /> <br />11 p. San Luis Valley Canal Company - Diversion Structure Rehabilitation <br />Tape 2: Start/Stop: 2357 - 2370 <br />Action: The staff recommended deauthorization of this project loan. <br /> <br />12a. Review of Estimate of Funds Available for New Loan Projects in 2001 <br />Tape 2: Start/Stop: 2501 - 2732 <br />Action: This was an information item. No action was taken. <br /> <br />12b. Total Fund Equity Rate of Growth - Review of Estimate of Funds Available for <br />Grants and Non-Reimbursable Projects in 2001 <br />Tape 2: Start/Stop: 2736 - 3020 <br />Action: Eric Wilkinson moved to approve the staff recommendation that the <br />CWCS adopt 3.84% as the measure of the long-term rate of inflation <br />(from the Engineering News Record National Average Construction Cost <br />Index for the period 1977-1999) , and that the CWCB establish 4.34% as <br />the Target Growth Rate for Total Fund Equity for the period 1999-2000, <br />and establish the base year as July 1999 (Total Fund Equity base amount <br />of $242 million). Eric Kuhn seconded the motion. The motion was <br />unanimously approved. (10-0) <br /> <br />13a. Review of Estimate of Funds Available for New Loan Projects in 2001 <br />Tape 2: Start/Stop: 3025 - 3323 <br />Action: Mike Serlet, CWCS staff, presented an estimate of funds available from <br />the Severance Tax Trust Fund Perpetual Base Account and concluded <br />that, as of November 20,2000, there appears to be sufficient cash to <br />fund the current loan applications. He emphasized that, with the Board's <br />support, he would be enforcing the August 31st deadline for requests for <br />project loans. This was an information item. No action was taken. <br /> <br />14a. Jackson Lake Reservoir and Irrigation Company - Diversion Structure Rehab <br />Tape 2: Start/Stop . 3324 - 3588 <br />Action: Eric Wilkinson moved to approve the staff recommendation to increase the <br />Company's loan by $53,100 for a new total loan amount of $389, 700 with <br />the conditions that the terms of the additional loan amount would be 4% for <br />30 years. The Company will increase its annual assessments to $14.40 <br />per share, and that the loan increase shall be contingent upon all standard <br />contracting provisions of the CWCB. The motion was seconded by David <br />Smith and the motion was approved unanimously. (10-0) <br /> <br />Minutes November 20-21,2000 <br />Page 7 <br />