16c ‎(2)‎

• Board Meeting Date: 7/22/2008
• Description: CF Section - New Project Loans - San Luis Valley Water Conservancy District - Water Rights Acquisition
• Board Meetings - Doc Type: Memo

San Luis Valley Water Conservancy District Agenda Item 16c
July 15, 2008
Page 6 of 6
Staff Recommendation
Staff recommends the Board approve a loan not to exceed $727,200 ($720,000 for project costs and
$7,200 for the 1% Loan Service Fee) to the San Lu is Valley Water Conservancy District – Water
Activity Enterprise for the Water Rights Acquisi tion Project from the Severance Tax Trust Fund
Perpetual Base Account. The terms of the loan sha ll be a 30-year loan at 3.5% per annum. Security
for the loan shall be in compliance with CWCB Financial Policy #5.
Staff further recommends the addition of the following condition in the CWCB Loan Contract:
San Luis Valley Water Conservancy District shall have a lease agreement in-place for
storage of the water acquired th rough this loan purchase prior to disbursement of funds from
the CWCB.
cc: Mike Gibson, Manager, San Luis Valley Water Conservancy District
Allen Davey, Davis Engineering, Inc.
Amy Stengel, AGO
Susan Schneider, AGO
Attachment: Water Project Loan Program – Project Data Sheet