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<br />Staff Recommendation (Board Approved Staff Recommendation on January 22, 2008) <br /> <br />Staff recommends a loan not to exceed $510,035 ($504,985 for project costs and $5,050 for the 1 % <br />Loan Service Fee) to the Beaver Reservoir Company for engineering and construction costs <br />associated with the Beaver Reservoir Rehabilitation Project, from the Severance Tax Trust Fund <br />Perpetual Base Account. The terms shall be based on their previous agricultural rate of 2.5% per <br />annum for 30-years. Final approval of the loan shall be conditioned upon all standard contracting <br />provisions of the CWCB Loan Program. Security for the loan shall be collateral in compliance with <br />CWCB Loan Policy #5. <br /> <br />cc: Tom Gillespie, President - Beaver Reservoir Company <br />Vaughn McWilliams, CWCB <br />Steve Biondo, CWCB <br />Amy Stengel, AGO <br /> <br />5 <br />