11e

• Board Meeting Date: 1/22/2008
• Description: CF Section – Construction Fund and Severance Tax Trust Fund Perpetual Base Account – New Loans - Bijou Irrigation District - Empire Reservoir East Embankment Dam Repair
• Board Meetings - Doc Type: Memo

Collateral: As security for the loan, the District will pledge its assessment revenues. This is in
compliance with CWCB Financial Policy #5 (Collateral).
Recommendation
Staff recommends a loan not to exceed $2,408,850 ($2,385,000 for project costs and $23,850 for
the 1 % Loan Service Fee) from the Severance Tax Trust Fund Perpetual Base Account to the
Bijou Irrigation District for the emergency repair of the East Dam. The recommended tei7ns of
the loan are 30 years at 2.25% per annum. Security for the loan shall be in compliance with CWCB
Financial Policy 5.
Staff further recommends that final approval of the loan be conditioned upon all other standard
contracting provisions of the CWCB and upon the District's election and voter approval of debt.
cc: Denice Wagner, Secretary, Bijou Irrigation District
Tara Schutter, PE, Applegate Group, Inc.
Amy Stengel, AGO
Attachment: Project Data Sheet