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PROJC01804 (3)
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PROJC01804 (3)
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Last modified
10/11/2011 8:56:04 AM
Creation date
7/28/2008 3:01:33 PM
Metadata
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Template:
Loan Projects
Contract/PO #
C150138
Contractor Name
Supply Irrigating Ditch Company
Contract Type
Loan
Water District
0
County
Boulder
Loan Projects - Doc Type
Approval Letter
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Supply Irrigating Ditch Co. Agenda Item 11b. <br />January 24-25, 2001. <br />TahiP 9 Financial Ratios <br />As security for the loan the SIDC will pledge assessment revenues backed by assessment <br />covenant and Company property at least equal in value to the loan amount. <br />Recommendation <br />Staff recommends a loan not to exceed $1,700,000 from the CWCB Construction Fund, to the <br />Supply Irrigating Ditch Company for rehabilitation of the Knoth Reservoir Dam. The <br />recommended term of the loan is 30 years and the recommended blended interest rate is 3.5%. <br />Security for the loan will be a pledge of assessment revenues backed by assessment covenant <br />and Company property at least equal in value to the loan amount. <br />Staff further recommends that finai approval of the loan be conditioned upon acceptance of the <br />project and the associated financial obligations by a vote of the sharehoiders of the Company, <br />and all standard contracting provisions of the CWCB. <br />� <br />cc: Eric Wiikinson, Board member, CWCB <br />Dan Grant, Secretary-Treasurer, Supply Irrigating Ditch Company. <br />Duane Smith, P.E., Smith Geotech. <br />Linda Bassi, AGO <br />Attachment <br />C:\W P51\Proj-New\SupplylrrCo101 memo <br />L:\boardmem\jan01\11b Supply Irrigating Ditch Co <br />L_I <br />4 <br />
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