BOARD00923

• Board Meeting Date: 5/23/2005
• Description: Summary Minutes and Record of Decisions - May 23-24, 2005
• Board Meetings - Doc Type: Minutes

2005 through June 30, 2006. The motion was seconded by Russell George and
approved (S-I). Tom Sharp voted Nay. Keith Catlin was not present for this
item.

13. Water Supply Planning and Finance Section - Policy Review - Policy #11 - Allowable
Loan Amounts as a Percent of the Total Project Cost
Tape 1, Track 3 33:00-42:00
Action: A motion was made by Don Schwindt that the Board approve a revision to
Financial Policy 11, with the staff directed to amend the language discussed
during this item, as shown below.
Revised language:

SUBJECT:

ALLOWABLE LOAN AMOUNTS BASED UPON A
PERCENT AGE OF THE TOTAL PROJECT COST

EFFECTIVE DATE: November 24,1997
May 24, 2005

POLICY:

The Colorado Water Conservation Board (CWCB) may lend up to 90
percent of the total costs for the planning, engineering design and
construction of projects. For those projects partially funded by the
Natural Resources Conservation Service (NRCS) programs, the CWCB
may authorize a loan of up to 100 percent of the total cost of the
planning, engineering design and project construction, with assurance of
repayment of a portion of the initial loan amount with NRCS funding.
The final balance of the loan shall not exceed 90% of the total project
cost.

The motion was seconded by Eric Wilkinson and approved unanimously (9-0).
Keith Catlin was not present for this item.

14. Water Supply Planning and Finance Section - Changes to Existing Loans - Stromberger
Land & Cattle Co. - Groundwater Recharge Augmentation Project
Tape 1, Track 3 42:00 - 4S: 11
Action: A motion was made by Eric Wilkinson that the Board approve the staff
recommendation to approve an increase of $59,000 to the Stromberger Land and
Cattle Company existing $414,000 loan, in accordance with CWCB Loan Policy
No 16, from the Construction Fund. The additional $59,000 in funding would be
for 20 years at the present lending rate of 2.5%. Security for the loan will be
collateral in accordance with CWCB loan policy #5. The motion was seconded
by Bob Burr and approved unanimously (9-0). Keith Catlin was not present for
this item.

15a. Water Supply Planning and Finance Section - New Project Loans - Bijou Irrigation
District - Empire Reservoir Dam Rehabilitation
Tape 1, Track 3 4S:11 - 1:06:07
Action: A motion was made by Eric Wilkinson to approve the staff recommendation to
approve a loan not to exceed $672,660 to the Bijou Irrigation District from the
Severance Tax Trust Fund Perpetual Base Account, to construct a new spillway

Flood Protection. Water Supply Planning and Finance. Stream and Lake Protection
Water Supply Protection. Conservation and Drought Planning
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