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14b. Tape 2: Action: Julesburg Irrigation District . Refinance of Existing Loan Start/Stop: 3577 - 4084 Eric Wilkinson moved to approve staff's recommendation that the CWCB find the District is eligible for a loan from the Small Project Loan Account in an amount not to exceed $100,000 for a term of 30 years at an interest rate of 3.5%; with collateral to be a pledge of revenues backed by a rate covenant and other property of value at least equal to the loan amount;, and with the loan subject to all other CWCB standard contracting provisions, and, further, that the CWCB fund that the District has demonstrated significant and un3xpected financial difficulties and has been duly diligent in its efforts to comply with the repayment provisions of its contract with the Board, and, based thereon, that the CWCI3 allow refinancing of existing of existing loan contract No. 153604 with current terms of 5% for 40 years to terms of 4% for 30 years. The motion was amended to change the interest rate for the refinancing of Contract no. 153604 to the 2001 agricultural rate of 3.5%. The amended motion was seconded by Eric Kuhn and unanimously approved. (10-0) 15a. Julesburg Irrigation District - Peterson - Lodge pole Crossing Rehabilitation Tape 2: Start/Stop: 3577 - 4084 Action: This item was included in the discussion of Item 14b. Tape 2: Action: 15b. West Rhone Lateral - Irrigation Ditch Rehabilitation Start/Stop: 4085 - 4231 David Smith moved to approve the staff recommendation that the CWCB fund that the Company is eligible for a loan from the Small Project Loan Account in an amount not to exceed $100,000 for up to 90% of the project costs, for a term of 30 years at 3.5%; that the security for the loan shall be a pledge of assessment revenues backed by an assessment covenant and a certificate of deposit in the amount of one' annual payment to be held by the CWCB; that the Company agrees to reduce the amount of the CWCB loan by the amount of MRCS cost share received upon project completion; and that the approval of the loan be conditioned upon all other CWCB standard contracting provisions. The motion was seconded by Eric Kuhn and unanimously app~oved. (10-0) - 16a. Dolores Water Conservancy District - WETPACK Tape 2: Start/Stop: 4265 - 7186 Tape 3: Start/Stop: ' 0001 - 0440 Action: Donald Schwindt recused himself from the vote. A motion was made by Patricia Wells to approve the staff recommendation of a Construction Fund loan to the Dolores Water Conservancy District and the Dolores Water Conservancy District Water Activity Enterprise for the irrigation compponent of the District's "Water for Everyone Tomorrow Package" (WETPACK) of up to $7,260,000 for 30 years, not to exceed 90% of project costs. Eligible expenses will include purchase of necessary water supplies and the construction of water supply infrastructure. The lending Minutes November 20-21, 2000 Page 8 . . .