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<br />through 10th payment at $67,200 with an effective rate of return of 3% over <br />the 40 years, and conditioned on acceptance and approval of a feasibility <br />study. The motion was seconded by David Smith. Allen Davey made a <br />motion to amend the motion and change the percentage rate to 2.5%. Tills <br />amended motion was seconded by Patricia Wells, but the motion failed (3-6). <br />The original motion was approved (8-1). <br /> <br />9a. Executive Session - Background Briefings <br />Tape 2, Start/Stop: 0771 - 1028 <br />Action: Patricia Wells recused herself from item 9aii. Janice Sheftel disclosed that <br />she would participate in all the items. Patricia Wells disclosed that she <br />would participate in 9ai. A motion was made by Janice Sheftel that the <br />Board go into Executive Session. The motion was seconded by David Smith <br />and approved unanimously (9-0), and the Board went into Executive Session. <br /> <br />Adjourn 11:45 p.m. <br /> <br />10. Report from Executive Session <br />Tape 2, Start/Stop: 1450 - 1565 <br />Action: No action was taken in relation to Executive Session items. <br /> <br />lla. Instream Flow Program - Authorization to Proceed to Trial - Buffalo Park <br />Development Company <br />Tape 2, Start/Stop: 1565 - 1625 <br />Action: A motion was made by Patricia Wells that the Board authorize the staff to <br />proceed to trial in this case, if necessary. The motion was seconded by <br />Janice Sheftel and approved unanimously (9-0). <br /> <br />12a - Instream Flow Program - Amendments to ISF Appropriations/Authorization to <br />12ee Pr oceed to Tr ial <br />Tape 2, Start/Stop: 1625 - 1700 <br />Action: A motion was made by Janice Sheftel that the Board authorize the staff to <br />proceed to trial in five cases, namely 5-90CW-280, 292, 293, 308 and 318, if <br />necessary. The motion was seconded by Allen Davey and approved <br />unanimously (8-0). There was no specific action taken in the remaining <br />cases. They will be brought back to the Board at a future time. <br /> <br />13a. Water Project Construction Loan Program - Modification to Previous Loan <br />Authorizations - Aristocrat Ranchette Water Project Inc. <br />Tape 2, Start/Stop: 1700 - 1839 <br />Action: A motion was made by Patricia Wells that the Board accept the staff <br />recommendation to consent to party status for RD's lien on ARWP's revenues <br />which are pledged to repay the loans from RD and CWCB, along with the <br />second condition listed in the Board memo. The motion was seconded by <br /> <br />Minutes May 12-13, 1997 CWCB Meeting <br />