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<br />Owl Creek Supply and irrigation Co. Agenda Item 1 ad. <br />January 14, 2000. <br /> <br />Reeommendation <br />Staff reeommends a loan not to exeeed $450,000 to the Owl Creek Supply and Irrigation <br />Company for up to 90% of the eosts to rehabilitate hydraulie struetures on the Company's diteh <br />system. The reeommended term of the loan is 30 years and the lending rate is 4%. Seeurity for <br />the loan will be a pledge of revenues from assessments, and additional eollateral in aeeordanee <br />with CWCS Loan Poliey # 5. <br /> <br />Staff further recommends that final approval of the loan be eonditioned upon aeceptance of the <br />project and the assoeiated finaneial obligations by a vote of the shareholders of the Company, <br />and upon all standard CWCS eontraeting provisions. <br /> <br />cc: Steve Cecil, President. Owl Creek Supply and Irrigation Co.. P.O. Box 206. Eaton. CO 80615 <br />Duane Smith, P.E.. Smith Geolechnical, 1225 Red Cedar Circle, Suile H, Fort Collins. CO 80524 <br />Linda Bassi. AGO <br /> <br />Attachment <br /> <br />C:IWP51IProj-NewIOwICreek12000memo <br /> <br />L:\boardmemljanOOl 1 Od-JanOO <br /> <br />4 <br /> <br />, <br /> <br />'" <br /> <br />e <br /> <br />e <br /> <br />e <br />