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<br />" ~ <br /> <br />Silt Water Conservancy District <br />March 24-26, 2003 <br /> <br />Agenda Item 24a. <br />(updated March 27, 2003) <br /> <br />Recommendation <br />Staff recommends a CWCB Small Project loan from the Construction Fund in an amount of <br />$486,000 to the Silt Water ConseNancy District and/or acting by and through the Silt Water <br />ConseNancy District Water Activity Enterprise for up to 90% of the costs to replace the transformer <br />and complete related construction work at its pumping plant on the Colorado River. The <br />recommended term of the loan is 30 years and the lending rate is 2.75% (2.828% Annual <br />Percentage Rate). Security for the loan will be a pledge assessment revenues backed by <br />assessment covenant, in accordance with CWCB Loan Policy #5 (Collateral). <br /> <br />Staff further recommends that final approval of the loan be conditioned upon all standard contracting <br />provisions of the CWCB, including the 1 % loan origination fee charged in accordance with CWCB <br />Policy #16. The maximum loan amount may be increased to $490,860 if the borrower elects to <br />finance the 1 % loan seNice charge. <br /> <br />Action taken bv the CWCS March 26. 2003 <br />The CWCB approved the Staff Recommendation, with the revision shown above. <br /> <br />cc: Norman Hunt, President, Silt Water Conservancy District, PO Box 8, Silt, CO 81652 <br />Linda Bassi, AGO <br /> <br />Attachment <br /> <br />C:\Proj-New\SiltWCD303memo L:\boardmem\Mar03\24a-Silt WCD <br /> <br />4 <br />