Laserfiche WebLink
<br />. <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />..~ <br /> <br />Tape I, Track 1 46:25 - 1:03:33 <br />Action: A motion was made by Don Schwindt with a second by John Redifer to approve staff <br />recommendation for a loan not to exceed $599,940 ($594,000 for project costs and <br />$5,940 for the 1% Loan Service Fee) to the Bull Creek Reservoir, Canal and Power <br />Company for engineering and construction costs associated with the Bull Creek <br />Reservoir Nos. 1, 2 and 4 Rehabilitation and Enlargement Project, including payment <br />of the current Palisades National Bank loan and other expenses already incurred, <br />from the Severance Tax Trust Fund Perpetual Base Account. The terms shall be <br />based on the current agricultural rate of2.5% per annum for a 30-year term. Final <br />approval of the loan shall be conditioned upon all standard contracting provisions of <br />the CWCB Loan Program and SEO/Division Engineer approval of the deadline <br />extension for the Stipulation and Agreement compliance. Security for the loan shall <br />be collateral in compliance with CWCB Loan Policy #5. <br /> <br />Motion was approved 10-D. <br /> <br />e. Larimer and Weld Irrigation Company - Lake Lee Dam Check Structures and Big Windsor <br />Lake Inlet Structure Rehabilitation. <br />Tape I, Track 1 1:03:33 -1:15:35 <br />Action: A motion was made by Eric Wilkinson with a second by Barbara Biggs to approve <br />staff recommendation for a loan notto exceed $1,515,000 ($1,500,000 for project costs and $15,000 <br />for the 1% Loan Service Fee in accordance with CWCB Loan Policy#l6), to the Larimer and Weld <br />Irrigation Company from the Severance Tax Trust Fund Perpetual Base Account, to rehabilitate <br />several structures On the Larimer and Weld Ditch, including replacement of the Lake Lee Dam <br />equalizer check structure, the Big Windsor Reservoir check and inlet structure, and construction of a <br />new Finley check structure. The recommended term of the loan is 30 years and the recommended <br />lending rate is 2.5% per annum. Security for the loan will be collateral in compliance with CWCB <br />Loan Policy #5 (Collateral). Final approval of the loan be conditioned upon all other standard <br />contracting provisions of the CWCB. <br /> <br />Motion was approved 10 - O. <br /> <br />5. Water Supply Planning and Finance Section - Changes to Existing Loans <br />a. East Fork Mutual Ditch Company - Ditch Rehabilitation Project <br />Tape 1, Track 1 1:15:35 -1:19:43 <br />Action: A motion was made by Bob Burr with a second DOn Schwindt to approve staff <br />recommendation that the Board approve an increase of$121,4l2 ($120,210 for <br />project costs and $1,202 for the I % loan origination fee, in accordance with CWCB <br />Loan Policy No. 16) from the Construction Fund. The additional $121,412 increment <br />of funding would be for 30-years at the present lending rate of 2.5%. Security for the <br />loan will be a pledge of assessment revenues backed by assessment covenant and <br />other Company property adequate to assure repayment of the loan, in accordance <br />with CWCB Loan Policy #5. Final approval ofthe loan will also be conditioned <br />upon standard contracting provisions of the CWCB. <br /> <br />Motion was approved 10 - O. <br /> <br />6. Attorney General's Report & Legal Briefing - There was a briefing from members ofthe Attorney <br />General's Office on the legal matters listed below, as well as a written and brief oral report on other legal <br />matters of interest to the Board. (By motion, the Board may consider matters listed under this agenda item in <br />executive session.) <br />Tape I, Track 1 1:19:43 - 1:27:29 <br />a. Gunnison River CWCB ... <br />b. Upper Gunnison River... <br /> <br />Flood Protection . Water Project Planning and Finance. Stream and Lake Protection <br />Wa.ter Supply Protection. Conservation Planning <br />