Laserfiche WebLink
<br />-4- <br /> <br />As security for the loan the ANLDC will pledge assessment revenues backed by assessment <br />covenant and the project itself. This security is in compliance with CWCS Loan Policy #5 <br />(Collateral). <br /> <br />Recommendation <br />Staff recommends a CWCS Small Project Loan in maximum amount of $100,000 to the Appleton <br />Northwest Lateral & Drainage Corporation for rehabilitation of the Appleton Northwest Lateral. The <br />recommended term of the loan is 30 years and the recommended lending rate is 2.75%. Security <br />for the loan will be a pledge of assessment revenues backed by assessment covenant and the <br />project itself. The loan will be funded from the Construction Fund. <br /> <br />Staff further recommends that final approval of the loan be conditioned upon all other standard <br />contracting provisions of the CWCS, and that any excess cost share funds from the Natural <br />Resources Conservation Service be applied to reduce the CWCS loan amount after construction is <br />complete. <br /> <br />cc: Roger Warren, President, Appleton Northwest (ML 369) Lateral & Drainage Co., 878 22 Rd., Grand <br />Junction, CO 81505 <br />Linda Bassi, AGO <br /> <br />Attachment <br /> <br />C:\WP51\Proj-NewlAppletonML369 102memo; <br /> <br />L:\boardmemlJan01lAgenda Item 5-Jan 02 Appleton ML369 <br /> <br />Flood Protection. Water Project Planning al)d Financing. Stream and Lake Protection <br />Water Supply Protection. Conservation Planning <br /> <br />'I <br /> <br />,. <br /> <br />. <br /> <br />. <br /> <br />. <br />