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Action: A motion was made b~- Carl Trick and seconded b~~ Eric Willcinson to approve <br />staff recommendation that the Board approve a loan not to eiceed $763,60 <br />($76,000 for the project costs and $7,60 for the 1% Loan Service Fee in <br />accordance with the CWCB Loan Polio- #16), to the Bijou Irrigation Company- <br />from the Severance Tai Tn~st Fund Perpetual Base Account, to rehabilitate the <br />Bijou Canal diversion stn~cture on the South Platte River. The recommended <br />terms of the loan are 30 ti-ears at 225% per annum. Securit~T for the loan «i11 be <br />a pledge of annual share assessment revenues. backed b~- a rate covenant, and the <br />project itself. Staff further recommends that final approval of the loan be <br />conditioned upon all other standard contracting provisions of the CWCB. Harold <br />Miskel «~as not present during the motion. The motion ~~~as approved <br />unanimouslti- (7-0). <br />19a. Water Suppl}T Planning & Finance Section -Revisions to Existing Loans -New Cache <br />La Poudre Irrigating Companti- - Ne«~ Reservoir Constn~ction <br />Tape 2, Track 1 01:1:19 - OL24:38 <br />Action: A motion ~~ as made b~- Carl Triclc and seconded b~- Geoff Blakeslee to approve <br />staff recommendation that the Board approve the increase to CWCB's cost <br />participation under Loan Contract C 150163 from 75% to 89%. The total loan <br />funds to NCLPIC ~tiill not emceed ($7,200,000 for project costs and $72,000 for <br />the 1% loan service fee in accordance with CWCB Loan Polio- #16). Loan <br />contract C150163 ~~~ill be amended to eitend the time of completion of the <br />project to Januai-~- 1, 2014, to accommodate the NCLPIC's land purchase <br />contract «th Cornish Plain Livestock, LLP. Also, the terms of the approved <br />loan will be amended from 30 rears to 20 Vears at their current interest rate of <br />2.~% per annum, upon substantial completion of the project. If NCLPIC should <br />choose to sell any portion of the 1,300 acres purchased under the Cornish Plains <br />Livestock Land Purchase Agreement, the proceeds from that sale shall be used to <br />pay- do~~m NCLPIC Loan Contract C1~0163 ~~ith CWCB. Staff further <br />recommends that final approval of the loan be conditioned upon all other <br />standard contracting provisions of the CWCB. Eric Wilkinson recused himself, <br />and did not participate in this agenda item because he is a share holder in <br />NOLPIC. The motion «%as approved unanimoushT (6-0). <br />19b. Water Supp1~- Plaiming & Finance Section -Revisions to E~istilig Loans -Pine«-ood <br />Springs Water District - Ra~~ Water Supply S~~stem <br />Tape 2. Track 1 01:24:39 - OL26:38 <br />Action: CWCB staff removed this item from the agenda. No action required. <br />20a. Directors' Reports - DNR Executive Director <br />Tape 2, Track 1 01:27:00 - 01:32:39 <br />Action: Informational item oiilV. no action taken. <br />20b. Directors' Reports -CWCB Director <br />Tape 2, Track 1 01:32:40 - 02:01:39 <br />Action: Acting Director Dan McAuliffe congratulated Linda Bassi for her ne~ti position <br />of CWCB Section Chief of the Iilstream Flow Section. Informational item onl~~, <br />no action taken. <br />Flood Fi~otecuon • Water Supply Planning and Finance • Su~eam and Lalie Frotecrion <br />Water Supply Fiotection . Conszi~~ation and Drought Planning <br />7 <br />