BOARD00463

• Board Meeting Date: 11/25/1996
• Description: Agenda or Table of Contents, Minutes, Memos
• Board Meetings - Doc Type: Meeting

misspelling of the word amortization in item 15. A motion was made by
David Smith to approve the minutes with this change. The motion was
seconded by Ray Werner and approved unanimously (9-0).

3. Directors' Reports - CWCR, now, SEO, AG, EDO, CWR&PDA

Tape I,
Action;

Start/Stop: 0313 - 1950
Reports from eWeB, SEO, AGO, DOW and C\VR&PDA were heard at
this time. This was an infornlational item; no action taken.

4a.d. Water Project Construction Loan Program. Projeet Deauthomlltions
Tape 1, StartfStop: 1950 . 2Q60
Action: All six items were taken together. A motion was made by Janice Sheftel
to accept the staff recommendation that the appropriated amounts for the
six specific projects identified be recommended to the General Assembly
for deauthorization in the annual Construction Fund bill. The motion was
seconded by Ray Werner and approved unanimously (9-0).

5.

Water Project Construction Loan Program. Interest Rate Re~lJ1mendation for 1997
Tape I, Start/Stop: 2060 - 2349
Action: A motion was made by Ray Werner to accept the staff recommendation
that the Board adopt a standard lending rate of 4.75 percent and the
schedule of 30-year lending rates as shown in the staff memo for all loans
recommended to the General Assembly or approved by the Board in 1997,
and that the 30-year lending rate be reduced for each category of loans by
one-quarter of one percent for all loans with maturities of 20 years or less
but more than 10 years and by one-half of one percent for all loans with
maturities of 10 years or less. The motion was seconded by Patricia Wells
and approved unanimously (9-0).

e

6,

Water Project Construction Loan Program. Proposed Criteria for Use of Severance
Tax Trust Fund
Tape I, Start/Stop: 2349 - 3170
Action: A motion was made by David Harrison to accept the staff recommendation
that the Perpetual Base Account general policies be essentially tbe same as
the Construction Fund in respect to loans, except that if there were a
shortage of available cash there would be a general preference accorded to
energy impacted communities to the extent of these monies. With respect
to the operational account and the grants, the Board shall follow the staff
recommendation to the 50 percent cost share that would not include any
upper monetary limit, and again, in the event of shortfall of any available
grant money or feasibility money, that there be a preference accorded to
impacted communities. The motion was seconded by Alan Hamel and
approved (9-1).

e

Minutes November 25-26, 1996 CWCR Meeting