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<br />revenues backed by a rate covenant and annual financial reporting as <br />adequate security for its $10,600,000 loan from the Construction Fund and <br />its $17,000,000 loan from the Severance Tax Trust Fund Perpetual Base <br />Account The motion was seconded by Ray Werner and approved <br />unanimously (8-0) <br /> <br />9, Water Supply Planning and Finance-Emergency Infrastructure Loan Account <br />Otero Ditch Company <br />Tape 1, Start/Stop: 4256 - 4516 <br />Action: A motion was made by David Smith to accept the staff recommendation <br />that the Otero Ditch Company be approved for a loan from the Emergency <br />Infrastructure Repair Account not to exceed $155,000 for up to 25% of the <br />costs to rebuild the Company's diversion structure, The term of the loan is <br />30 years at a lending rate of 4%, Security for the loan will be a pledge of <br />assessment revenues backed by assessment covenant, one payment in a <br />certificate of deposit account to be held by the State, and the project itself <br />The motion was seconded by Erik Kuhn and approved unanimously (7-0) <br /> <br />10, Water Supply Planning and Finance - Small Loans <br />Woodchuck Ditch Company <br />Tape 1, Start/Stop: 4516 -4700 <br />Action: A motion was made by David Smith to accept the staff recommendation <br />that Woodchuck Ditch Company be approved for a loan from the Small <br />Project Loan Account not to exceed $40,000 for approximately 27% of the <br />costs of the project The loan would be for 20 years at a lending rate of <br />3,75%, Security for the loan will be a pledge of assessment revenues <br />backed by assessment covenant, one payment in a certificate of deposit <br />account to be held by the State and the project itself The motion was <br />seconded by Eric Kuhn and approved unanimously (9-0), <br /> <br />lla, Water Supply Planning and Finance - Non-Reimbursable Projects <br />Chatfield Storage Reallocation Feasibility Study <br />Tape 1, Start/Stop 4702 - 5380 <br />Action: The motion was made by Patricia Wells to accept the staff <br />recommendation for an increase to HB 98-1189 authorization for the <br />Chatfield Reservoir Reallocation Study through an amendment to HB 00- <br />1419, The language in the amendment will authorize the Board to spend <br />$50,000 for water supply and demand investigation and $30,000 for <br />additional field surveys and topographic mapping for the South Platte <br />River for a total of $80,000, The motion also needs to include authority <br />for the CWCB staff to enter into a contract with a consultant The motion <br />was seconded by Bob Burr and approved unanimously (9-0), <br /> <br />Minutes March 20 - 21, 2000 <br />Page 4 <br />