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<br />" <br /> <br />Action: <br /> <br />A motion was made by Harold Miskel and seconded by Eric Wilkinson to approve <br />staff's recommendation for a loan not to exceed $49,440 ($48,950 for project costs <br />and $490 for the 1% Loan Service Fee in accordance with ewCR Loan Policy <br />#16), to the Abbott Ranch from the Severance Tax Trust Fund Perpetual Base <br />Account, to replace an existing irrigation well, and to pay expenses already <br />incurred. The terms of the loan shall be 10 years at 2.00% per annum. Security for <br />the loan will be a first lien on real estate with a total value equal to or greater than <br />110% of the CWCB loan amount. The final approval of the loan will be <br />conditioned upon all other standard contracting provisions of the CWCR John <br />Redifer was not present for this agenda item. The motion passed unanimously (7- <br />0). <br /> <br />. <br /> <br />17c. Water Supply Planning and Finance Section - Construction Fund and Severance Tax <br />Trust Fund Perpetual Base Account New Loans - Town of Keenesburg - Raw Water <br />Pipeline and Well Purchase <br />Tape I, Track 3 00:29:53 - 00:44:34 <br />Action: A motion was made by Eric Wilkinson and seconded by Don Schwindt to <br />approve staff's recommendation for a loan not to exceed $1,523,080 ($1,508,000 <br />for project costs and $15,080 for the 1% Loan Service Fee in accordance with <br />CWCB Loan Policy #16), to the Town of Keenesburg, acting by and through its <br />water enterprise (Waterworks Operating Fund), from the Construction Fund, to <br />purchase an existing well and construct a raw water pipeline from the well to the <br />Town, in order to improve water quality. The recommended terms of the loan <br />are 30 years at 3.75% per annum. Security for the loan will be a pledge of water <br />revenues from its water enterprise fund (Waterworks Operating Fund), backed by . <br />a rate covenant and annual financial reporting. The final approval of the loan <br />will be conditioned upon all other standard contracting provisions of the CWCR, <br />with the following additional conditions: <br />1. Prior to disbursement of State loan funds, the Town shall have executed a <br />water rights purchase contract, in accordance with the Letter of Intent with <br />PV Water & Sanitation Metropolitan District dated February 21, 2006. <br />2. In the event that State grant funds for the project are obtained through the <br />Department of Local Affairs, said grant funds shall be used to reduce the <br />principal amount of the CWCR loan. The motion passed unanimously (8-0). <br /> <br />18. Stream and Lake Protection Section/Water Supply Protection Section - 2006 New <br />Appropriations - Arkansas River <br />Tape I, Track 3 00:00:00 - 00:00:00 <br />Action: This agenda item was deleted from the agenda. <br /> <br />Meeting Recessed <br /> <br />5:30 PM <br /> <br />Wednesday, March 22, 2006 <br />Call to Order (8:04 a.m.) <br /> <br />A regular meeting of the Colorado Water Conservation Board (CWCB) was reconvened <br />at the Garfield RE2 School District Learning Center, Room III, in the basement, 839 Whiteriver <br />Avenue, Rifle, Colorado 81650. The meeting was called to order by Vice Chair, John Redifer. <br />Eight voting members were present at the call to order so a quorum was present (at least six <br /> <br />. <br /> <br />Flood Protection. Water Supply Planning and Finance. Stream and Lake Protection <br />Water Supply Protection. Conservation and Drought Planning <br />6 <br />