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<br />Granby Ditch & Reservoir Company <br />Updated May 22, 2008 <br />Page 5 of 5 <br /> <br />Agenda Item 18 <br /> <br />Staff Recommendation (Board Approved Staff Recommendation on May 21, 2008) <br /> <br />Staff recommends the Board approve a loan not to exceed $254,520 ($252,000 for project costs and <br />$2,520 for the 1 % Loan Service Fee) to the Granby Ditch and Reservoir Company for the Granby <br />#12 Dam Rehabilitation Project from the Severance Tax Trust Fund Perpetual Base Account. The <br />terms ofthe loan shall be a 30-year loan at the blended rate of2.35% per annum. Security for the <br />loan shall be in compliance with CWCB Financial Policy #5. <br /> <br />Additional Contract Conditions: <br /> <br />Staff further recommends that share assessments be increased to cover the CWCB debt service prior <br />to contracting with the CWCB. <br /> <br />cc: George Fuller, President, Granby Ditch &Reservoir Company <br />Chuck Richards, Secretary, Granby Ditch & Reservoir Company <br />Norman Aufderheide, Buckhorn Geotech <br />Amy Stengel, AGO <br /> <br />Attachment: Water Project Loan Program - Project Data Sheet <br />