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<br />- 6- <br /> <br />2,5% (2,58% Annual Percentage Rate), 20 years at 2,25% (2,36% Annual <br />Percentage Rate), or 10 years at 2% (2,20% Annual Percentage Rate), at the <br />borrower's option, Security for the loan will be a pledge of assessment <br />revenues backed by assessment covenant and other Company property <br />adequate to assure repayments of the loan, in accordance with CWCB Loan <br />Policy #5, <br /> <br />Final approval of the loan is conditioned upon standard contracting provisions <br />of the CWCB, <br /> <br />Motion was approved 7-0, Greg Walcher, Carolyn McIntosh and Harold <br />Miskel were not present. <br />f. Orphan Wells of Wiggins, LLC - Well Augmentation Project <br />Tape 1, Track 2 2:53:18-3:11:57 <br />Action: A motion was made by Don Schwindt with a second by Bob Burr to approve <br />staff recommendation for a CWCB Small Project loan from the Construction <br />fund in amount up to $1,048,077 ($1,037,700 for project costs and $10,377 <br />for the 1 % Loan Service Fee, in accordance with CWCB Loan Policy #16) to <br />the Orphans Wells of Wiggins LLC. The loan is for up to 90% of the cost to <br />construct a well augmentation and groundwater recharge project. The <br />recommended loan terms are 30 years at 2,5% (2,58% Annual Percentage <br />Rate,) Security for the loan will be a pledge of assessment revenues backed <br />by assessment covenant and other Company property adequate to assure <br />repayment of the loan, in accordance with CWCB Loan Policy #5, <br /> <br />Final approval of the loan is conditioned upon standard contracting provisions <br />of the CWCB, <br /> <br />Motion was approved 7-0, Greg Walcher, Carolyn McIntosh and Harold <br />Miskel were not present. <br /> <br />9, Water Supply Planning and Finance - En-bloc Non-Reimbursable Investment <br />Recommendations <br />a, CWCB/Division of Water Resources - Satellite Monitoring System <br />b, CWCB-Irrigated Acreage Update - Rio Grande Basin <br />c, CWCB-Document Imaging Program <br />d, CWCB-Colorado Floodplain Map Modernization <br />e, CWCB- Weather Modification Program <br />f. CWCB-Flood Hazard Mitigation Program <br />Tape 1, Track 2 3:11:57 - 3:15:20 <br />Action: A motion was made by Don Schwindt with a second by Keith Catlin to approve staff <br />recommendation that the Finance Committee has reviewed all of these Construction <br />Fund Non-Reimbursable investment applications on September 22,2003 and request <br />the Board approve these projects, Motion was approved 8-0, Greg Walcher and <br />Carolyn McIntosh were not present. <br /> <br />10, Water Supply Planning and Finance - Referred Non -Reimbursable Investments <br /> <br />a, Tamarisk Coalition - Statewide Tamarisk Field Survey <br /> <br />Flood Protection. Water Project Planning and Finance. Stream and Lake Protection <br />Water Supply Protection. Conservation Planning <br />