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<br />Wednesday. September 14. 2005 <br />Call to Order (8:15 a.m.) <br /> <br />A regular meeting of the Colorado \Vater Conservation Board (CWCB) was reconvcned <br />at the Iron Ilorse inn. 5800 North Main Strect. Durango. Colorado 81301. Thc mecting was <br />called to order by Chair. Barbam Biggs. Tcn voting members were present at the call to order so <br />a quorum \....as present (at least six required). Voting Board members present were Chair Barbara <br />Biggs. Vice Chair John Redifer. Executive Director. Department of Natuml Resources. Russel] <br />George. Keith Catlin. Don Schwindt. Bob Burr. Tom Sharp. Eric \Vi]kinson. Tra....is SmIth. and <br />lIarold f\.hskel. Ex Officio members present or represented were eWCB Director Rod Kuharich. <br />Acting CWeB Dc-puty Dircctor Rick Brown. and Deputy Attorney General Casey Shpall for <br />Attomcy Gcneml John Suthers. <br /> <br />12a. Water Supply Plannmg and Finance Sc-ction - New Loans - Little Thompson Watcr <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 />slaff recommendations as presented for both 12a and 12b. For agenda item t2a. <br />staff recommended that a loan be provided to the Little Thompson Water <br />Distnct. in an amount not to exceed $4.994.955 ($4.945.500 for project costs and <br />$49.455 for the 1 % Loan Servicc Fee in accordance v.'ith CWCB Loan Policy <br />#16). acting by and through the Little Thompson Watcr District Water Activity <br />Enterprise. from the Severancc Tax Trust Fund Perpetual Base Account. to <br />construct the proposed Dry Creek reservoir m 50/50 partnership with the Central <br />\Veld County WaleI' Distnct. The recommended terms of the loan arc 20 years at <br />3.60% per annum. Security for the loan will be a pledge ofv..aler mle revenues <br />backed by a rate covenant and annual linancial reporting. and tina] approval of <br />the loan w\l1 be conditioned upon all other standard contracting provisu)Os oflhe <br />CWCB. The motion was approved unammously (10-0). <br /> <br />12b. Water Supply P]anmng and Financc Section - New Loans - Central Wcld County Water <br />District - Dry Creek Reservoir Construction <br />Tape 2. Track I 00:00:00 -00:27:42 <br />Action: A motion was made by Eric Wilkinson and seconded by John Redifer to approve <br />both statl' recommendations as presented for both 12a and 12b. For agenda item <br />12b. statYrecommended that a loan be provided 10 the Central Weld County <br />Water District. in a amount not to cxcec-d S-l.994.955 ($-.1..945.500 for project <br />costs and $49.455 fix the I % Loan Service Fee in accordance ,vith e\VeB Loan <br />Policy #16). acting by and through the Central Wc]d County Water Activity <br />Enterprise. from the Sevcrance Ta:.. Trust Fund Perpetual Base Account. to <br />construct the proposed Dry Creek reservoir in 50/50 partnership with the Little <br />Thompson Watcr District. The recommended terms of the loan arc 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 Iinal approval of the loan be conditioned upon all othcr <br />standard contracting provisions of the eWCR. The motion was approved <br />unanimously (10-0). <br /> <br />Flood Prolection . W dIeT Supply PlannIng and rlndn({" . Suc-am and LJ.ke PmtC'Cllon <br />W .lleT Supply PrOtection. Cons.cr;.uion and Drought Planmng <br />6 <br />