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• • <br /> Agenda Item 17h. <br /> November 24, 1997 <br /> Page 3 <br /> 3. That the financing terms for this Construction Fund Authorization (total amount of <br /> $955,000) shall be at an annual percentage rate equal to the "Standard Income" rate for <br /> a municipality (as set by the CWCB November 24 1997), for a duration of 30 years, and <br /> 4. That loan approval shall be contingent, and upon all standard contracting provisions of <br /> the CWCB, as determined by the CWCB Director, and <br /> 5. That security for the loan ($955,000) shall be a collateral interest in the stream of income <br /> derived by the City's water enterprise, from the sale of water, and a certificate of <br /> deposit in amount of one annual payment. <br /> • Attachments <br /> D:\msword\IdahoSprings97.memo <br /> • <br />