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<br />e <br /> <br />e <br /> <br />e <br /> <br />to approve a loan not to exceed two million dollars, the lending rate would <br />be calculated by the procedure outlined in the Board memo, and would be <br />rounded to the nearest one-quarter of one percent. It was also suggested <br />that the staff talk to the Attorney General's Office for the design of the <br />process, and that the Director of the CWCB raise this issue with the <br />Legislature. The motion was seconded by David Meyring and approved <br />unanimously (9-0). <br /> <br />lIb. <br /> <br />Water Project Construction Loan Program - Requests for Approval for Loans to <br />Refinance Federal Projects - Purgatoire River Water Conservancy District <br />Tape 2, Start/Stop: 2718 - 2867 <br />Action: This item was deleted from the agenda. <br /> <br />At this time, a motion was made by David Smith that the Board adjourn <br />and go into Executive Session to be briefed on item 21(a)(xi) Kansas v. <br />Colorado. The motion was seconded by Janice Sheftel and approved <br />unanimously (9-0). The Board adjourned at 12:30 p.m. <br /> <br />12a. Water Project Construction Loan Program - Requests for Approval on Loans on <br />New Projects - Powderhorn Metropolitan District I Utility Enterprise <br />Tape 2, Start/Stop: 2870 - 3856 <br />Action: This item included item lOa. A motion was made by Ray Werner to <br />accept the staff recommendation for the feasibility study in item lOa, with <br />information related to the Board's questions on this project to be brought <br />to the January meeting, In regard to the loan, it should be given a <br />placehold in the bill and brought back to the Board in January for action. <br />The motion was seconded by David Smith and approved unanimously (9- <br />0). <br /> <br />12b. Water Project Construction Loan Program - Requests for Approval on Loans on <br />New Projects - Agricultural Ditch & Res. Co. <br />Tape 2, Start/Stop: 3856 - 4826 <br />Action: David Harrison recused himself from this item. A motion was made by <br />Patricia Wells to accept the staff recommendation for a $300,000 loan to <br />the Agricultural Ditch and Reservoir Company to rehabilitate the Welch <br />Ditch System, which would be a 30 year loan at the rate of 5.25%, and <br />that the staff respond to the Welch Ditch Users Association that the Board <br />is in no position to make any assurance concerning their ditch assessments. <br />The motion was seconded by Ray Werner and approved unanimously (8- <br />0). <br /> <br />12c. Water Project Construction Loan Program - Requests for Approval on Loans on <br />New Projects - Durkee Ditch & Reservoir Co. <br />Tape 2, Start/Stop: 4826 - 5364 <br /> <br />Minutes November 25-26, 1996 CWCB Meeting <br />