BOARD00760

• Board Meeting Date: 7/23/2002
• Description: Summary Minutes and Record of Decisions - July 23-24, 2002
• Board Meetings - Doc Type: Minutes

Action:

.4.

Tabled until the September 2002 in Gunnison.

17. Water Supply Planning and Finance Section - Changes to Existing Loans
Track I, Start/Stop: 40:30-49:59
a. Arkansas Groundwater Users Association - Loan Deferral Request
Action: A motion was made by David Smith to accept the staff recommendation that
the Board adopt a resolution to approve the Arkansas Groundwater Users
Association's request for financial relief by granting a four.year, 100 percent
deferment of their April I, 2002.05 contract #C15380810an payment in the
amount of $25,550.33. The deferred interest amount of the loan will be added
to the current loan balance that will then be re.amortized over the loan's
remaining life. The deferral is based on the Board's finding that the District
has encountered significant and unexpected financial difficulties, and that it
has been duly diligent in its efforts to comply with the repayment of its
contracts with the Board. The motion was seconded by Harold Miskel and
approved 9.0.

b.
Action:

Town of Monument. Monument Dam Rehabilitation
A motion was made by Harold Miskel to adopt staff recommendations that the
Board approve an increase of $362,000 from the 2002 Severance Tax Trust
Fund Perpetual Base Account for the Monument Lake Dam Project for the
Town of Monument. The additional $362,000 increment of funding would be
for 30.years at a lending rate of 5.5 percent. The total Severance Tax Trust
Fund Perpetual Base Account funding level for this project would amount to
$2,443,000. As collateral for the loan, the Town of Monument pledges
revenues from its "Water Enterprise." Staff further recommends that the
following conditions be met prior to entering into a contract for the additional
loan increment of funding: 1. That the Town of Monument's Town Council
adopt a resolution or resolutions approving the loan, and pledges of revenues
from the Town's "Water Enterprise" as colloateral to the loan; 2. Any
collateral pledged for the loan shall be free of all liens and encumbrances; 3.
The CWCB Construction Fund loan shall have parity status with any existing
debt of the Company with respect to a pledge of revenues; 4. The loan
increase shall be contingent upon all standard contracting provisions of the
CWCB. The motion was seconded by Ray Wright and approved 9.0.

18. Water Supply Planning and Finance Section - Fish and Wildlife Mitigation Fund
Track I, Start/Stop: 1:05:18.1:14:33
Action: A motion was made by Harold Miskel to accept staff recommendation that the
Board adopt the mitigation plan approved by the Colorado Wildlife
Commission as the official state position on wildlife mitigation for the
Monument Lake Dam Rehabilitation project, and award the Town of
Monument a grant from the Fish and Wildlife Resources Fund to cover the
eligible design and construction costs of the mitigation plan in the amount of
$194,428. The motion was seconded by Eric Wilkinson and approved 9.0.

19.

Water Supply Planning and Finance Section - New Loans
Track I, Start/Stop:

I: 14:33.1 :39:35

Flood Protection. Water Project Planning and Financing. Stream and Lake Protection
Water Supply Protection. Conservation Planning