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Trinchera irrigation Company <br />March 21. 201 ! <br />Page 5 of 5 <br />Agenda Item 25a <br />Staff Recommendatian (Board approved sta#f recommendation on March 16, 2011) <br />Stat�recommends the Board approve a loan not to exceed $251,793 ($249,300 for project costs and <br />$2,493 far a 1% Loan Service Fee) to the Trinchera Irrigation Company for the Garland #2 Canal <br />Repair Project from tlie Construction Fund. The loan terms shall be 30 yeazs at the agricc�ltural rate <br />of 2.75% per annum. Security for the loan sha11 be in compliance with CWGB Financial Policy #5. <br />cc: 3ane Devine, Office Manager, Trinchera Irrigation Company <br />Susan Schneide�, AGO <br />Peter Johnson, AGO <br />Attachment: Water Praject Laan Program — Project Data Sheet <br />