BOARD00140

• Board Meeting Date: 5/7/1980
• Description: Agenda and Minutes
• Board Meetings - Doc Type: Meeting

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percent, which amounts to one point two million. The

other 50 percent, as that note indicates, would come from

the Agricultural Stabilization and Conservation Service.

MR. GORMLEY: Are they in the process of applying

for that or has that been received?
MR. IOANNIDES: I think they are in the process and

they have already received $137,000 plus a previous amount

that they have received last year for $5,000, and what

the Agricultural Stabilization Service is saying that

each year they are going to be coming up with amounts

that would be varying from a hundred to a hundred fifty

thousand dollars.

They cannot promise that those amounts will be

available because they are working from a year-to-year

basis. However, indications are that those amounts will

become available from year to year and that as the funds

become available, they'd be matched with the -- with

Board -- Baord monies.

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And part of the project would be built -- we expect

the project to be built, oh, by the next five years.

MR. GORMLEY: The reason the question, and I vote

for it and I approve it -- the question I can see here is

are we going to have money held in reserve over periods

of time that are authorized either by the legislature or

the projects we approve for submission to the legislature,