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<br />a 1 % origination fee), at its present interest rate of2.5 % for 30-years. Security for the loan will be a pledge <br />of assessment revenues backed by assessment covenant and the project itself, to include the Lake Lee Dam, <br />the Big Windsor check and inlet structure, and the Finley check structure. Security for the loan will be <br />collateral in compliance with CWCB Loan Policy No.5 (Collateral). <br /> <br />Staff further recommends that final approval of the loan be conditioned upon all standard-contracting <br />provisions ofthe CWCB. <br /> <br />ACTION TAKEN BY THE CWCB BOARD ON SEPTEMBER 19. 2007 <br />board approved staff recommendation <br /> <br />cc: Barry Anderson, President, Larimer and Weld Irrigation Company <br />Duane Smith, Smith Geotechnical Engineering Consultants <br />Vaughn McWilliams, CWCB <br />Amy Stengel, AGO <br /> <br />4 <br />Flood Protection. Water Project Planning and Financing. Stream and Lake Protection <br />Water Supply Protection. Conservation Planning <br />