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<br />Recommendation <br /> <br />Staff recommends that the Board recommend to the General Assembly an increase of $3,000,000 <br />in the City of Loveland's loan authorization for a total of $5,000,000 in funding for the design <br />and construction of the Green Ridge Glade Reservoir enlargement project. The term of the loan <br />would be ten years, as requested by the City, and the lending rate would be the Standard <br />Municipal lending rate for 1999 as may be established by the Board in November 1998 reduced <br />by one-half of one-percent for a ten-year term. As security for the loan, the City and its water <br />activity enterprise will pledge Water Fund revenues and a portion of the project equivalent in <br />value to the amount of the loan. <br /> <br />Attachments <br /> <br />Cc: Ralph Mullinix, City of Loveland <br />Larry Howard, City of Loveland <br />Dan Law, Water & Power <br />Linda Bassi, AGO <br /> <br />4 <br /> <br />. <br /> <br />. <br /> <br />. <br />