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Arkansas Valley Conduit <br />November 13-15, 2006 <br />Agenda Item10a <br />c. Taxpayer's Bill of Rights (TABOR) Compliance -The Enterprise will supply to the <br />CWCB, a TABOR compliance letter prior to entering into the State contract, with <br />respect both to the loan to fhe Enterprise and the step-up provisions of the <br />participants' agreements. <br />7. Federal Memorandum of Understanding (MOU) - It is contemplated that an MOU between <br />the SECWCD Water Activity Enterprise and a federal agency or agencies will be necessary <br />to address such items as design, ownership and operation of the Arkansas Valley Conduit. <br />This agreement shall be in place prior to execution of a State contract. <br />8. Status Report on Conditions -Prior to executing a State loan contract, the CWCB staff shall <br />provide a status report to the Board on the fulfillment of the above loan approval conditions. <br />9. Loan Disbursements -Disbursements from the CWCB to the Enterprise will be in the same <br />percentage (and time frame) relative to the total CWCB loan amount, as disbursements <br />made from the Federal government relative to the total Federal government cost-share <br />commitment. <br />cc: Mr. Bill Long, Chairman, SECWCD -Arkansas Valley Conduit Committee <br />Mr. James Broderick, General Manager, SECWCD <br />Mr. Phil Reynolds, Chief Financial Officer, SECWCD <br />Amy Stengel, AGO <br />Attachment <br />Action Taken by the CWCB on November 13, 2006 <br />The CWCB approved the Staff Recommendation, with the modification of Condition #4 and the <br />addition of Conditions #6c and #9, as shown in italics above. <br />Page 11 of 12 <br />