BOARD00061

• Board Meeting Date: 3/20/1997
• Description: Summary Minutes and Record of Decisions - March 20-21, 1997
• Board Meetings - Doc Type: Minutes

and approved unanimously (9-0).

lla. Water Project Construction Loan Program - Changes to Existing loans or Loan
Authorizations - Copper Mountain Inc.
Tape 2, Start/Stop: 2041 - 2180
Action: A motion was made by Janice Sheftel to accept the staff recommendation
that the Board consent to the merger of Copper Mountain, Inc., with
Intrawest U.S. Resorts, Inc., and that the Director be given authority to
execute the amendment to the Deed of Trust. The motion was seconded by
Patricia Wells and approved unanimously (9-0).

llb. Water Project Construction Loan Program - Changes to Existing Loans or Loan
Authorizations - Aristocrat Ranchettes Water Project.
Tape 2, Start/Stop: 0000 - 0000
Action: This item was deleted from the Agenda.

llc. Water Project Construction Loan Program - Changes to Existing Loans or Loan
Authorizations - Eagle Park.
Tape 2, Start/Stop: 2180 - 2407
Action: Eric Kuhn and Patricia Wells recused themselves from this item. A motion
was made by David Harrison that the Board accept the staff recommendation
to include a provision in the loan contract allowing the partial release of
collateral on the loan at five year intervals beginning at the end of the first
five years of the repayment period. The motion was seconded by Ray
Werner and approved unanimously (7-0).

12a. Water Project Construction Loan Program - Arkansas River Augmentation Loan
Account - LAWMA Request for Funding - Additional Water Rights Acquisition
Tape 2, Start/Stop: 2407 - 3845
Action: David Harrison recused himself from this item. A motion was made by
Patricia Wells that the Board accept the staff recommendation, with the
addition of language at the end of paragraph 1 stating "or a new loan
authorization for the LA WMA up to $2.4 million, with the understanding
that if the Board needs to implement the transfer to the augmentation
account, that the Board recommends that the Legislature be asked to raise the
$1.5 million limit on that account accordingly." The other two paragraphs in
the recommendation remain as written. The motion was seconded by Alan
Hamel and approved unanimously (8-0).

13a. Floodplain Management Program - Flood Forecast Preparedness Operations for
Spring 1997 - 1997 Snowpack Comparisons for 1996 and 1995
Tape 2, Start/Stop: 4100 - 4400
Action: This was an informational item; no action taken.

13b. Floodplain Management Program - Flood Forecast Preparedness Operations for

Minutes March 20-21,1997 CWCB Meeting