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<br />. <br /> <br />Wednesday, January 25,2006 <br />Call to Order (8: II a.m.) <br /> <br />A regular meeting of the Colorado Water Conservation Board (CWCB) was reconvened <br />at the Holiday Inn Denver Intemational Airport, 15500 East 40th A venue, Denver, Colorado <br />80239. The meeting was called to order by Chair, Barbara Biggs. Nine voting members were <br />present at the call to order so a quorum was present (at least six required). Voting Board <br />members present at the call to order were Chair Barbara Biggs, Vice Chair John Redifer, Harold <br />Miske!, Keith Catlin, Don Schwindt, Bob Burr, Tom Sharp, Eric Wilkinson, and Travis Smith. <br />Executive Director, Department of Natural Resources, Russell George joined later in the <br />morning. Ex Officio members present or represented were CWCB Director Rod Kuharich, <br />Acting CWCB Deputy Director Rick Brown, State Engineer Hal Simpson, State Agriculture <br />Commissioner Don Ament, and Deputy Attorney General Casey Shpall. <br /> <br />. <br /> <br />18a. Water Supply Planning and Finance - Construction Fund and Severance Tax Trust Fund <br />Perpetual Base Account New Loans - Hope Ditch Company (Weisner Subdivision)- <br />Well Replacement Project <br />Tape 2, Track I 00:00:00 - 00: 13:50 <br />Action: A motion was made by Eric Wilkinson and seconded by Harold Miskel to <br />approve staffs recommendation to make a loan from the Construction Fund to <br />the Hope Ditch Company to replace an existing well for domestic water supply. <br />The loan will not exceed $154,530 ($153,000 for project costs and $1,530 for the <br />1% Loan Service Fee in accordance with the CWCB Loan Policy #16). The <br />terms of the loan are 30 years at 3.75% per annum. Security for the loan will be <br />a pledge of monthly and capital water assessment revenue, backed by a rate <br />covenant and the replacement well, along with the land parcel where the well is <br />located and all related appurtenances. The approval ofthe loan will be <br />conditioned upon all other standard contracting provisions of the CWCB, with <br />the following additional condition: In the event that the Hope Ditch Company <br />should amend Article VIII, Section 7.7 of its By-Laws, removing the Company's <br />ability to file liens and foreclose on lots for delinquent assessments, the CWCB <br />loan shall become due and payable in full. Russell George was not present for <br />this agenda item. The motion was approved unanimously (9-0). <br /> <br />. <br /> <br />19a. Water Supply Planning and Finance Section - Changes to Existing Loans - Mancos <br />Valley Beaver Ditch Company - Beaver Ditch Pipeline Project <br />Tape 2, Track 1 00: 13:50 - 00:26:59 <br />Action: A motion was made by Don Schwindt and seconded by John Redifer to approve <br />staff s recommendation to increase the initial loan to the Mancos Valley Beaver <br />Ditch Company from the Severance Tax Trust Fund Perpetual Base Account for <br />the Mancos Valley Beaver Ditch Pipeline Project not to exceed $913,798 <br />($904,750 for project costs and $9,048 for the I % Loan Service Fee). Further, <br />the Board approved staffs recommendation to provide a post-construction loan <br />to the Company no1 to exceed $235,236 ($226,188 for project costs and $9,048 <br />for the 1 % Loan Service Fee, with terms based on the curren1 agricultural rate <br />(30 years at 2.50% per annum). Security for the loan will be collateral in <br />compliance with the CWCB Loan Policy No.5. The final approval of the loan <br />will be conditioned upon the following: I) Execution of a second USDA <br />Conservation Program Contract for $354,971; 2) Company's Funding Agreement <br /> <br />Flood Protection. Water Supply Planning and Finance. Stream and Lake Protection <br />Water Supply Protection. Conservation and Drought Planning <br />7 <br />