18 ‎(3)‎

• Board Meeting Date: 5/21/2008
• Description: CF Section - New Project Loans - Granby Ditch and Reservoir Company - Granby #12 Dam Rehabilitation Project
• Board Meetings - Doc Type: Memo

Granby Ditch & Reservoir Company Agenda Item 18
May 13, 2008
Page 5 of 5
Staff Recommendation
Staff recommends the Board approve a loan not to exceed $254,520 ($252,000 for project costs and
$2,520 for the 1% Loan Service Fee) to the Gran by Ditch and Reservoir Co mpany for the Granby
#12 Dam Rehabilitation Project fr om the Severance Tax Trust Fund Perpetual Base Account. The
terms of the loan shall be a 30-ye ar loan at the blended rate of 2.35% per annum. Security for the
loan shall be in compliance with CWCB Financial Policy #5.
Additional Contr act Conditions:
Staff further recommends that share assessments be increased to cover the CWCB debt service prior
to contracting with the CWCB.
cc: George Fuller, President, Granby Ditch &Reservoir Company
Chuck Richards, Secretary, Gr anby Ditch & Reservoir Company
Norman Aufderheide, Buckhorn Geotech
Amy Stengel, AGO
Attachment: Water Project Loan Program – Project Data Sheet