Colorado Water Resources & Power Development Authority Jan 2003

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Board Meeting Minutes December 6, 2002 Page 3 of 7 • Motion By: Sara Duncan 2 "a By: Louis Rinaldo Vote: Motion Carried The Board was then asked to adopt Resolution No. 02 -32 authorizing the execution of a loan agreement with the Fountain Valley Authority. A motion was made for adoption of Resolution No. 02 -32. Motion By: Bob Carlstrom 2 "a By: Dick Pryor Vote: Motion Carried 2003 Eligibility List — Additions and Deletions Mike Brod presented the list of additions and deletions to the 2003 Eligibility. List for the Board's consideration. A motion was made to adopt the 2003 Eligibility List (and incorporate the additions and deletions into'a joint resolution) with the provision that staff can modify the list following further review and discussion with the Water Quality Control Division. Motion By: Steve Harris 2 "d By: Bob Carlstrom Vote: Motion Carried MOU SSTTA Rural Water — Resolution No. 02 -33 Keith McLaughlin presented the Small Systems Technical and Training Assistance MOU with Rural Water for Board approval. A motion was made to adopt Resolution No. 02 -33 accepting the MOU. Motion By: Steve Harris 2 "d By: Randall Palmgren • Vote: Motion Carried Set- Asides and Technical, Managerial and Financial Reviews and Status of Projects Keith McLaughlin referred to the handout and stated that the only change to set - asides was the execution of the Capacity Development MOU approved at the previous meeting adding an additional grant year. There were no changes in the TMF reviews since the last Board meeting. Mike Brod reported potential applications from the Mustang Water Authority, the Town of Lyons and the City of Longmont. Water Pollution Control Revolving Fund Loan Applications —City of Colorado Springs, Pikes Peak Highway Enterprise (Updated) Keith McLaughlin presented additional information from the Pikes Peak Highway Enterprise concerning its request for a $1,000,000 direct loan, confirming that the four conditions had been or would be met and that the project did receive a favorable recommendation by the Project Finance Committee. Mr. McLaughlin also introduced Preston Kin-der, Manager of the Pikes Peak Highway Enterprise. The Board discussed the Enterprise administrative transfer fee subordination agreement. A motion was then made to authorize staff to begin negotiating a direct loan for the City of Colorado Springs, Pikes Peak Highway Enterprise in the amount of $1,000,000 for 18 years at an interest rate of 4% subject to the City adopting the proposed toll fee increase, the Enterprise receiving revenue for the first year from the annual Lodgers and Automobile Tax Fund (LART), the Enterprise 2003 budget showing a decrease of at least $800,000 in operating expenses and a separate three -party agreement subordinating the Enterprise administrative transfer fee to the debt service on any Authority loan. Motion By: Sara Duncan 2 "d By: Steve Harris Vote: Motion Carried •