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<br />Tape 2, Track 3 00:46:44 - 00:53 :02 <br />Action: h1formational only; no action taken <br /> <br />22b. Water Supply Planning and Finance - Estimate of Funds Available for New Projects in <br />2006 - Severance Tax Trust Fund Perpetual Base Account <br />Tape 2, Track 3 00:53:02-01:27:03 <br />Action: h1forrnational only; no action taken <br /> <br />23a. Water Supply Planning and Finance - Construction Fund and Severance Tax Trust Fund <br />Perpetual Base Account New Loans - Highland Ditch Company - Foothills Reservoir <br />Rehabilitation <br />Tape 2, Track 2 01:19:22-01:31:12 <br />Action: A motion was made by Eric Wilkinson, and seconded by Torn Sharp to approve <br />the staff recommendation for a loan not to exceed $545,400 ($540,000 for project <br />costs and $5,400 for the 1% Loan Service Fee) to the Highland Ditch Company, <br />from the Severance Tax Trust Fund Perpetual Base Account for engineering and <br />construction costs associated with the Foothills Reservoir Darn Repair Project, <br />and to pay expenses already incurred. The terms of the loan shall be a 20-year <br />loan at 2.25% per annum. Final approval of the loan shall be conditioned upon <br />all standard contracting provisions of the CWCB Loan Program. Security for the <br />loan shall be collateral in compliance with CWCB Loan Policy #5. As a <br />condition ofthe loan the staff further recommends that the Borrower shall use the <br />first loan disbursement under this Contract to repay the total principal and <br />interest due on the bridge loan. The motion was approved unanimously (9-0). <br /> <br />24a. Water Supply Planning and Finance - Changes to Existing Loans - Buffalo Farms Water <br />Development, LLC - Augmentation Project <br />Tape 2, Track 2 01:31:12-01:35:30 <br />Action: A motion was made by Eric Wilkinson, and seconded by Don Schwindt to <br />approve the staff recommendation that the Board approve an increase of $81 ,810 <br />($81,000 for project costs and $810 for the 1% Loan Service fee, in accordance <br />with CWCB Loan Policy No. 16) from the Severance Tax Trust Fund Perpetual <br />Base Account. The additional $81,810 of funding would be for 20-years at the <br />present lending rate of 2.25%. Security for the loan will be collateral in <br />accordance with CWCB loan policy #5 (a first lien on real estate with a total <br />value equal to or greater than the CWCB loan amount and a personal guarantee <br />by each of the owners.) The motion to approve Staff recommendation included <br />that final approval of the loan be conditioned upon all standard-contracting <br />provisions of the CWCB. The motion was approved unanimously (9-0). <br /> <br />25a. Water Supply Plarming and Finance - Special Purpose Funds - Flood Response Fund- <br />Replacement of Funds <br />Tape 2, Track 3 01:27:03 - 01:30:13 <br />Action: A motion was made by Torn Sharp, and seconded by John Redifer to approve <br />Staffs recommendation that the Board considerrestoring up to $150,000 to the <br />Flood Response Fund to refresh and maintain it to the original funding level for <br />Fiscal Year 2006. Further staff recommended that the Board request the General <br />Assembly to restore up to $150,000 from the Construction Fund to be <br /> <br />Flood Protection. Water Supply Planning and Finance. Stream and Lake Protection <br />Water Supply Protection. Conservation and Drought Planning <br />8 <br />