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Memorandum Agenda Item 10c 01/27,28, 1999
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Memorandum Agenda Item 10c 01/27,28, 1999
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8/8/2016 12:33:45 PM
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Board Meetings
Board Meeting Date
1/27/1999
Description
Board Meeting Water Project Construction Loan Program - Revisions to the Guidelines for Interest Rate Setting
Board Meetings - Doc Type
Memo
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Proposed Revisions <br /> 1.3.2 Lending Policy <br /> a. The Board's Construction Fund lending policy will be reviewed by the Board in March of each <br /> year. [Aug 94] <br /> b. The Board and the staff of the CWCB will attempt to maintain an overall, long-term rate <br /> of return of no less than 4.0 percent on the aggregate amount of all loans and grants made <br /> 1,� (X through the Construction Fund in order to offset the long-run impacts of price inflation <br /> I ^ f " and to maintain the integrity of the Fund. [Nov 97] <br /> c. The CWCB may loan a maximum of 50-percent of the cost of a feasibility study for a water <br /> project. The Board's participation in feasibility study costs must be repaid whether a project <br /> Ja i "0 I�/ is constructed or not. Repayment for a feasibility study loan may be incorporated in <br /> repayment for a design and construction loan. [Aug 94] <br /> d. The CWCB loan for any project must be repaid to the Construction Fund under repayment <br /> terms to be established by the Board. [Aug 94] <br /> V ) Savil P <br /> e. At the last Board meeting of each calendar year, the CWCB staff will present to the Board <br /> �� a summary of the t thirty-year 'A' rated municipal bond— d.e s [Nov 97] <br /> for the preceding twelve months. Based on this summary, the staff will recommend to the <br /> Board a lending rate structure for all Construction Fund and <br /> • 1� Severance Tax Trust Fund Perpetual Base Account [Nov 97] projects <br /> which are to be recommended to the General Assembly in the following calendar year. [Jan <br /> 95] <br /> f. A specific lending rate for each project will be recommended to the Board by the staff <br /> based on an analysis of: the type of project, the project sponsor's ability to pay, and the <br /> t significance of the project to the development of the State's water supplies. Lending rates <br /> l0 will be established for agricultural, commercial, and municipal project purposes using the <br /> following definitions: <br /> • Agricultural projects are those sponsored by ditch companies, irrigation districts, or any <br /> other agricultural entity to provide agricultural water supplies. <br /> • Commercial projects are those sponsored by any private individual or firm using or <br /> supplying water for other than agricultural purposes. <br /> • Municipal projects are those sponsored by established cities, towns, or special districts <br /> organized under Colorado state statutes. [Jan 95] <br /> 006 (AtEK For municipal projects, separate lending rates will be established for low income, <br /> I , standard income, and high-income service areas based on median household income in <br /> • the project sponsor's service area. [Jan 95] <br /> 3 <br />
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