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<br />Recommendation for a loan from the Emergency Infrastructure Loan <br />Account not to exceed $943,000 to the Consolidated Home Supply Ditch <br />and Reservoir Company to rehabilitate the Mariano Dam, for the <br />recommended term of 30 years and the recommended lending rate of <br />3.5%. The loan will be secured by a pledge of assessment revenue backed <br />by assessment covenant and the project itself, and conditional upon all <br />other standard contracting provisions of the CWCB. The motion was <br />seconded by David Smith and approved (8-0). <br /> <br />16b. Water Supply Planning and Finance - Emergency Infr astructure Loan Account - <br />John Peroulis and Sons - Martin-Cull Dam Rehabilitation <br />Tape 4, Start/Stop: II 05 - 1498 <br /> <br />Action: <br /> <br />This project was proposed as a Small Project Loan. A motion was made <br />by Carolyn McIntosh to approve the staff recommendation for a Small <br />Project Loan not to exceed $100,000 to the John Peroulis and Sons <br />Partnership to rehabilitate the Martin-Cull Dam, for the recommended <br />term of 30 years and the recommended lending rate of 3.5%. The loan will <br />be secured by a pledge of facilities, water rights and/or other real property <br />of value equal to the loan amount, and conditional upon all other standard <br />contracting provisions of the CWCB, including a favorable credit report <br />from the current lender, a lender's title policy for the CWCB loan, and an <br />appraisal of the property pledged. Additional conditions include a <br />requirement that the value and ownership of the collateral be confirmed <br />prior to contracting, that the CWCB get a first lien on the water rights and <br />the land of the reservoir (which will probably require a subordination by <br />the existing lender) and that all partners and their spouses be signatories to <br />the contract. The motion was seconded by David Smith and approved (8- <br />0). <br /> <br />17a. Water Supply Planning and Finance - Changes in Existing Loans - Pinon Mesa <br />Ranches Community Association - Delinquency Review. <br />Tape 4, Start/Stop: 0000 - 0000 <br />Action: This item was deleted from the agenda. <br /> <br />17b. Water Supply Planning and Finance - Changes in Existing Loans - Lower Arkansas <br />Water Management Association - Loan Payment Deferral <br />Tape 4, Start/Stop: 1498 - 1628 <br />Action: A motion was made by Eric Wilkinson to accept the staff recommendation <br />to give the recipient a one year 100% deferment of their May 1, 2002 loan <br />payment in the amount of $122,000, upon the condition that the deferred <br />interest payment be added to the current loan balance, and the resulting <br />new balance be reamortized over the remaining life of the loan. The <br />motion was seconded by Carolyn McIntosh and approved (8-0). <br /> <br />18. Water Supply Planning and Finance - CWCB Finance Sub-Committee Report <br />Tape 5, Start/Stop: 0460 - 0694 <br /> <br />Minutes September 24-25, 2001 <br />Page 6 <br />