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<br />Director's Report <br />November 24, 1996 <br />Page 2 of2 <br /> <br />Water Pollution Control Revolvina Fund <br /> <br />The Authority has been working since January on the refunding of several early bond issues. <br />However, since interest rates increased during February and March, the refunding was put on <br />hold until recently. With Interest rates falling the last few weeks, the $30 miilion refunding is <br />moving again. The present value savings is now estimated at around 4.8 percent. If interest <br />rates hold, bonds will be sold on December 4. <br /> <br />SinCG my last report, the Authority has approved the towns of Manzanola ($80,000) and Vona <br />($85,000) for loans. In addition the city of Westminster was approved for a $13,000,000 loan <br />to build reuse facilities. <br /> <br />In October the Water Quality Control Commission approved the 1997 intended use plan for <br />the WPCRF program. This year there will be 38 additions and 33 deletions to the project <br />eligibility list. The total need of the projects on the list remains at around $400 million. <br /> <br />-"" . <br />