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<br />3.60% per annum. Security for the loan will be a pledge of water rate revenues <br />backed by a rate covenant and annual financial reporting, and final approval of <br />the loan will be conditioned upon all other standard contracting provisions of, the <br />CWCB. The motion was approved unanimously (10-0). <br /> <br />. <br /> <br />12b. Water Supply Planning and Finance Section - New Loans - Central Weld County Water <br />District - Dry Creek Reservoir Construction <br />Tape 2, Track I 00:00:00 - 00:27:42 <br />Action: A motion was made by Eric Wilkinson and seconded by John Redifer to approve <br />both staff recommendations as presented for both 12a and 12b. For agenda item <br />12b, staff recommended that a loan be provided to the Central Weld County <br />Water District, in a amount not to exceed $4,994,955 ($4,945,500 for project <br />costs and $49,455 for the I % Loan Service Fee in accordance with CWCB Loan <br />Policy #16), acting by and through the Central Weld County Water Activity <br />Enterprise, from the Severance Tax Trust Fund Perpetual Base Account, to <br />construct the proposed Dry Creek reservoir in 50/50 partnership with the Little <br />Thompson Water District. The recommended terms of the loan are 20 years at <br />3.70% per annum. Security for the loan will be a pledge of water rate revenues <br />backed by a rate covenant and annual financial reporting. Staff further <br />recommended that final approval of the loan be conditioned upon all other <br />standard contracting provisions ofthe CWCB. The motion was approved <br />unanimously (10-0). <br /> <br />12c. Water Supply Planning and Finance Section - New Loans - Dry Creek Reservoir <br />Construction - Smith Arroyo Siphon Replacement Project <br />Tape 2, Track I' 00:27:42 - 00:38:00 <br />Action: A motion was made by Harold Miske! and seconded by John Redifer to approve <br />the staff recommendation as presented. Staff recommended a loan be provided to <br />the High Line Canal Company in an amount not to exceed $458,540 ($454,000 <br />for project costs and $4,540 for the I % Loan Service Fee) for engineering and <br />construction costs associated with the Smith Arroyo Siphon Replacement Project, <br />from the Severance Tax Trust Fund Perpetual Base Account. The terms of the <br />loan shall be a 20-year loan at 2.25% per annum. Final approval of the loan shall <br />be conditioned upon all standard contracting provisions of the CWCB Loan <br />Program. Security for the loan shall be collateral in compliance with CWCB <br />Loan Policy #5. The motion was approved unanimously (10-0). <br /> <br />. <br /> <br />13a. Water Supply Planning and Finance Section - Policy Discussion - Emergency Loan <br />Requests <br />Tape I, Track 2 00:00:01-00:09:44 <br />Action: Informational item; no action taken <br /> <br />14. Flood Protection - Chatfield Downstream Channel Improvement Project - Operation and <br />Maintenance Activities <br />Tape I, Track 2 00:09:44 - 00:35:49 <br />Action: A motion was made by Eric Wilkinson that staff should pursue means either <br />through a Section 1135 study, or other means, to get a technical review of the <br />existing Chatfield Downstream Channel capacity to have the Army Corp of <br />Engineers declare existing conditions to be acceptable, and if not acceptable, or <br /> <br />, <br /> <br />Flood Protection. Water Supply Planning and Finance. Stream and Lake Protection <br />Water Supply Protection. Conservation and Drought Planning <br />6 <br />