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<br />~ <br /> <br />Agenda Item 20a <br />January 25, 1995 <br /> <br />3 <br /> <br />REVISED STAFF RECOMMENDATION. presented at January 25. 1995 meeting: <br /> <br />The staff recommends: <br /> <br />1. That a construction fund loan authori2:ation in an amount of $15,000 be <br />approved for the Ortiz Ditch Company, as the Company's cost share of the total <br />project cost to rehabilitate the Ortiz Ditch diversion dam, and <br /> <br />2. That the fmancing terms shall be 3.5% annual percentage rate, for a duration <br />of 10 years, and <br /> <br />3. That the loan may be used to REFINA1~CE project costs incurred prior to <br />contracting with the State, only if approved by the Director of the Colorado Water <br />Conservation Board, and <br /> <br />4. (The item 4. requirement was omitted.) <br /> <br />5. That loan approval shall be contingent upon staff evaluation of the Company's <br />financial condition and ability to pay, and upon all standard contracting provisions <br />of the CWCB. <br /> <br />ACTION TAKEN BY THE CWCB JANUARY 25. 1995: <br /> <br />The CWCB approved the revised staff recommendation as presented at the January <br />25, 1995 board meeting. (Ray Wright said that the Rio Grande WCD may consider <br />sponsoring the project.) <br /> <br />'- <br /> <br />Ariachments <br />C:\wp51Ijohn\20a.jan <br />