BOARD00435

• Board Meeting Date: 7/28/2003
• Description: Summary Minutes and Record of Decisions - July 28-29, 2003
• Board Meetings - Doc Type: Minutes

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New Castle, acting by and through its Utility Fund (enterprise fund), to
construct a new diversion structure and pump station on the Colorado
River, and a raw water pipeline to the Town's existing water treatment
facility. The recommended term of the loan is 30 years and the
recommended lending rate is 4.5% per annum. Security for the loan
will be a pledge of enterprise fund revenues backed by a rate covenant
and annual financial reporting.

Staff further recommends that final approval of the loan be
conditioned upon all other standard contracting provisions of the
CWCB, including the 1 % loan origination fee in accordance with
CWCB Policy #16. The maximum loan amount may be increased to
$707,000 if the borrower elects to finance the 1 % loan service charge.
Staff further recommends the following approval condition:
In the event that State grant funds for the project are obtained
through the Department of Local Affairs, said funds shall be
used to reduce the principal amount of the CWCB loan.
The motion was approved 8-0. Kent Holsinger was not present in the
room. Carolyn McIntosh was not present.

g. Victor Quint - Well Augmentation Project
Tape 3, Track 1 2:28: 16-2:37:00
Action: A motion was made by Don Schwindt with a second by David Smith for Staff
recommends of a CWCB Small Project Loan from the Construction Fund in
the amount of $85,500 to Victor J and Margie J. Quint for up to 90% of the
cost to construct the Quint Augmentation site. The recommended loan terms
are 30 years at 2.5% (2.577% Annual Percentage Rate). Security for the loan
will be collateral in accordance with CWCB loan policy #5 of ale' lien on (5
acres of land, including improvements, located in the SW 1,4 of Section 31,
T5N, R54W with value at least equal to the loan amount, as established by a
Colorado Certified General Appraiser.)

Staff further recommends that final approval of the loan be conditioned upon
all standard-contracting provisions of the CWCB, including the 1 % loan
origination fee charged in accordance with CWCB Policy #16. The loan
amount may be increased to $86,355 if the borrower elects to finance the 1 %
loan service charge.

The motion was approved 8-0. Kent Holsinger was not present in the room.
Carolyn McIntosh was not present.

h. Mildred L. Rothe - Well Augmentation Project
Tape 3, Track 1 2:37:00 - 2:52:30
Action: A motion was made by Don Schwindt with a second by Keith Catlin for Staff
recommendation of a CWCB Small Project Loan from the Construction Fund
in the amount of $353,482 to Mildred L. Rothe for up to 90% of the cost to
construct groundwater recharge and augmentation facilities known as the
Rothe Augmentation and Groundwater Facilities Plan. The recommended

Flood Protection. Water Project Planning and Finance. Stream and Lake Protection
Water Supply Protection. Conservation Planning