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<br />Tape 2, Track 3 00:46:44 - 00:53 :02 <br />Action: Informational only; no action taken <br /> <br />. <br /> <br />22b. Water Supply Planning and Finance - Estimate of Funds Avai]ab]e for New Projects in <br />2006 - Severance Tax Trust Fund Perpetual Base Account <br />Tape 2, Track 3 00:53:02 - 0] :27:03 <br />Action: Informationa] only; no action taken <br /> <br />23a. Water Supply Planning and Finance - Construction Fund and Severance Tax TlUst Fund <br />Perpetual Base Account New Loans - Highland Ditch Company - Foothills Reservoir <br />Rehabilitation <br />Tape 2, Track 2 0]:19:22 - 0]:3]:]2 <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 ]% Loan Service Fee) to thc High]and Ditch Company, <br />from the Severance Tax TlUst Fund Perpetual Basc Account for engineering and <br />construction costs associated with the Foothills Reservoir Darn Repair Project, <br />and to PllY 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 of the 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 0]:31:]2 -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 $8] ,810 <br />($81,000 for project costs and $810 for the] % Loan Service fee, in accordance <br />with CWCB Loan Policy No. ]6) from the Severance Tax TlUst Fund Perpetual <br />Base Account. The additional $8],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 />. <br /> <br />25a. Water Supply Planning and Financc - Special Purpose Funds - Flood Response Fund- <br />Replacement of Funds <br />Tape 2, Track 3 0]:27:03 - 0]:30:13 <br />Action: A motion was made by Torn Sharp, and seconded by John Redifer to approve <br />Staffs recommendation that the Board consider restoring 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 />. <br /> <br />Flood Protection. Water Supply Planning and Finance. Stream and Lake Protection <br />Water Supply Protection. Conservation and Drought Planning <br />8 <br />