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<br />" <br />'" <br /> <br />; <br /> <br />Grand Mesa Reservoir Co. <br />September 22-23, 2003 <br /> <br /> <br />Jb /A~e;:~5b <br /> <br /> <br />~ <br />'2,!!,',;}"'::> <br /> <br />.A Recommendar <br />,., Staff reco nds CWCS Small Project loan from the Construction fund in amount up to <br />....$90.900 90,00 for project costs and $900 for the 1 % Loan Service Fee, in accordance with <br />(~~I(!O CWCS Loan Policy #16) to the Grand Mesa Reservoir Company. The loan is for up to 90% 2L~/~ <br />.. the cost to rehabilitate the outlet systems on the Grand Mesa Reservoirs #1 and #9:'11ie': 't1I~1J..#- <br />recommended terms of the loan are 20 years at 2.4%, OR 30 years at 2.7%. at the com&.fr:ys ~ <br />option. (Annual Percentage Rates of 2.51% and 2.78% respectively,) Security for the loan will I([ <br />be a pledge of assessment revenues backed by assessment covenant and other Company I/fltl/ <br />property adequate to assure repayment of the loan. in accordance with CWCS Loan Policy #5. , <br /> <br />Staff further recommends that final approval of the loan be conditioned upon standard <br />contracting provisions of the CWCS. <br /> <br />f\b y/Q {J-.v. o.J.Jo <br />+ <br /> <br />e <br /> <br />cc: <br /> <br />Rod Bonnell. Secretary-Treasurer. Grand Mesa Reservoir Company. <br />Bret Guillory. Project Engineer. City of Grand Junction <br />Linda Bassi. AGO <br /> <br />Attachment <br /> <br />C:IProj-NewIGMRC 903 memo <br />L:lboardmemlSept0315b - Grand Mesa Reservoir Co. <br /> <br />e <br /> <br />5 <br />