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<br />tit <br /> <br />the rehabilitation of the Carl Smith Dam. The recommended lending rate is 3,75 percent <br />for a term of 30 years. Staff further recommends that the Board require, prior to execution <br />of a loan contract, that: <br /> <br />1, the Company's shareholders approve the loan, the pledge of revenues and the <br />conveyance of a security interest in the Carl Smith Dam site and water rights <br />to the CWCB and, <br /> <br />2. the Association will obtain liability insurance for all of its reservoirs. <br /> <br />Attachments <br /> <br />Cc: Tom Alvey, LCWUA <br />Duane Smith, Smith Geotech. <br />Steve Cann, AGO <br /> <br />. <br /> <br />e <br /> <br />5 <br />