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i.ake Canal Reservoir Company <br />Sept�,�nber 2, 2011 (Updated 5eptember 20, 3011) <br />Page S of 5 <br />Staff' Recommendation <br />Agenda Item 20a <br />Staff recommends the Baard approve a loan not to exceed $116,625 (� 1 I 5,470 for project costs and <br />$1,I35 for the 1% Loan Service Fee) from the Construction Fund to the Lake Canal Reservoir <br />Company for engineering and construction costs relafed t� the Rehabilitation of North Gray <br />Reservoir Praject. The Ioan terrns sl�all be 34 ycars at a blended-restricted reservoir interesi rate of <br />2.10% per annum. Security for the laan shall be in c�mpliance with CWCB Financial Policy #S. <br />cc: Rodney Nelson, President, Lake Ganal Reser��oir Company <br />Clint Brown, P.E., Smith GEOtechnical Engineering, Ine. <br />Susan Schneider, �GO <br />Peter Johnson, AGO <br />Attachment: Vb'ater Project Loan Pro�;ram — Project Uata Sheet <br />