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Recommendation <br />Staff recommends that the Board approve an increase of $1,436,220 ($1,422,000 for project <br />costs and $14,220 for the 1% Loan Service Fee) to the Bijou Irrigation District, from the <br />Severance Tax Trust Fund Perpetual Base Account, at its current interest rate of 2.25% for 30 <br />years. The District's total amended loan amount will be $2,090,700 ($2,070,000 for project <br />costs and $20,700 for the 1% Loan Service Fee) for the removal and replacement of the entire <br />diversion structure and improvements to the intake structure. Security for the loan shall be <br />collateral in compliance with CWCB Loan Policy No. 5. <br />Staff further recommends that final approval of the loan be conditioned upon all other standard <br />contracting provisions of the CWCB and upon the District's election and voter approval of all <br />debt. <br />ACTION TAKEN BY THE CWCB BOARD ON NOVEMBER 19. 2008 <br />Board approved staff recommendation. <br />c: Denice Wagner, Secretary- Bijou Irrigation Dist~ict <br />Amy Stengel, AGO <br />~ <br />~~ <br />~ J <br />