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FOR REFERENCE <br />Loan Approval Conditions (As approved by the CWCB in November, 2006) <br />1. Final Feasibility Study -Prior to execution of a State loan contract, the project sponsor is <br />required to complete the feasibility study to the satisfaction of the CWCB Director or his <br />designee, including institutional and financial program details. <br />2. Participant Funding Agreements <br />a. Prior to execution of a State loan contract, all proposed Participant Funding Agreements <br />contemplated in the Loan Application & Feasibility Study shall be executed, and copies <br />submitted to the CWCB. The format of the agreements shall be as agreed upon by the <br />CWCB and the Enterprise prior to execution with participants. <br />b. Water Allocation -Participant Funding Agreements shall address water allocation to the <br />Arkansas Valley Conduit. Based on the annual availability ofFry-Ark Project water, <br />the District and the Enterprise shall make every attempt to allocated water in such a <br />manner as to meet the requested demand (6,555 acre feet) of the participants. In <br />average years, this will require the allocation of a minimum of 776 AF of available <br />return flows to the project, or an equivalent amount of water from other sources. <br />3. Conservation Plans -Prior to execution of a State loan contract, all "covered entities" <br />participating in the project are required to have aCWCB-approved Water Conservation Plan <br />in place. <br />4. Federal Authorization - No State loan contract shall be executed until Federal legislation to <br />authorize the federal/local cost-share for the Arkansas Valley Conduit has been approved. <br />5. Federal Funding Appropriation - No State loan contract shall be executed until Federal <br />legislation appropriating construction funds for the Arkansas Valley Conduit has been <br />approved. <br />6. CWCB Loan Contract - <br />a. Time Limit -Provisions pertaining to the time limit for loan approval shall be as <br />outlined in CWCB Financial Policy #2 (Time Limits), with the following <br />exception: The moneys appropriated in the CWCB Water Projects Bill shall <br />remain available for the designated purposes until the project is completed; <br />except that if the SECWCD Water Activity Enterprise does not enter into a loan <br />contract with the CWCB within two years after the effective date of the CWCB <br />Water Projects Bi11 {l~9[ay~AA~~ (July 1, 2009), then the moneys appropriated <br />