BOARD00156

• Board Meeting Date: 11/19/2003
• Description: Summary Minutes and Record of Decisions - November 19-21, 2003
• Board Meetings - Doc Type: Minutes

- 5-

Motion was approved 8-0, Greg Walcher was not present. Eric Wilkinson
recused himself.
c, Groundwater Management sub-district of the Central Colorado Water Conservancy District-
Water Rights Purchase and Storage Construction
Tape 1, Track 2 1:49:00-2:25:13
Action: A motion was made by Bob Burr with a second by Ray Wright to approve the
staff recommendation to provide an additional Small Project Loan from the
Construction Fund in amount up to $5,000,000 ($4,950,495 for project costs
and $49,505 for the 1 % Loan Service Fee, in accordance with CWCB Loan
Policy #16) to the Ground Water Management Subdistrict of the Central
Colorado Water Conservancy District. The loan is for up to 90% of the costs
of a project to purchase senior water rights and to construct water storage and
recharge facilities for augmentation purposes, The recommended loan terms
are 30 years at 2,5% (2,58% Annual Percentage Rate), Security for the loan
will be a pledge of tax revenues backed by rate covenant, in accordance with
CWCB Loan Policy #5,

Final approval of the loan is conditioned upon standard contracting provisions
of the CWCB,

Motion was approved 7-0, Greg Walcher, Carolyn McIntosh and Harold
Miskel were not present.
d, Greeley Loveland Irrigation Company - Boyd Lake Spillway Reconstruction
Tape 1, Track 2 2:25: 13 - 2:36:30
Action: A motion was made by Greg Hoskin with a second by David Smith to approve
the staff recommendation to provide a Small Project Loan, not to exceed
$2,844,000 ($2,815,842 for project costs and $28,158 for the 1 % Loan
Service Fee, in accordance with Loan Policy #16), to the Greeley and
Loveland Irrigation Company from the Construction Fund to construct a new
spillway at Boyd Lake, The recommended term of the loan is 30 years and
the recommended lending rate is 3,00% per annum, Security for the loan will
be a pledge of assessment revenues backed by assessment covenant and the
project itself.

Final approval of the loan is conditioned upon all other standard contracting
provisions of the CWCB,

Motion was approved 7-0, Greg Walcher, Carolyn McIntosh and Harold
Miskel were not present.
e, Johnson and Edwards Ditch Company - Well Augmentation Project
Tape 1, Track 2 2:36:30 - 2:53:18
Action: A motion was made by Don Schwindt with a second by Bob Burr to approve
the staff recommendation to provide a Small Project loan from the
Construction Fund in amount up to $133,825 ($132,500 for project costs and
$1,325 for the 1 % Loan Service Fee, in accordance with CWCB Loan Policy
#16) to the Johnson and Edwards Ditch Company, The loan is for up to 90%
of the costs to construct a well augmentation and groundwater recharge
project and purchase water rights, The recommended loan terms is 30 years at
Flood Protection. Water Project Planning and Finance. Stream and Lake Protection
Water Supply Protection. Conservation Planning