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<br />. <br /> <br />. <br /> <br />. <br /> <br />Consolidated Home Supply Ditch and Reservoir Co. <br />September 24-25, 2001 <br /> <br />Agenda Item 163. <br /> <br />Recommendation <br />Staff recommends that the CWCS find that Consolidated Home Supply Ditch and Reservoir <br />Company is eligible for a loan from the Emergency Infrastructure Repair Account because <br />"...the project is necessary to avoid unreasonable risk of injury or damage to human health or <br />well-being or to property or crops, and because the emergency condition is not the result of <br />negligence in the operation or maintenance of the infrastructure. "The Mariano Dam is a Class I <br />structure, has had a slide on the downstream slope, and can not be used to full capacity for <br />storage. The Company is unable to deliver water from this reservoir to its shareholders for <br />irrigation. Deiaying the project until summer or fall 2002 would jeopardize crops. <br /> <br />Staff recommends a Loan from the Emergency Infrastructure Repair A1:Count not to exeeed <br />$943,000 to the Consolidated Home Supply Ditch and Reservoir Company to rehabilitate the <br />Mariano Dam. The recommended term of the loan is 30 years and the recommended lending <br />rate is 3.5%. Security for the loan will be a pledge of assessment revenues backed by <br />assessment covenant and the project itself. <br /> <br />Staff further recommends that finai approval of the loan be conditioned upon all other standard <br />contracting provisions of the CWCS. <br /> <br />cc: <br /> <br />Randy Starr, PO Box 642, Loveland, CO 80539-0642 <br />Colby Hayden, Rocky Mt. Consultants, 825 Delaware Ave., Longmont, CO 80501 <br />Linda Bassi, AGO <br /> <br />Attachment <br /> <br />C:\ WP51 \Proj-New\ConsolidatedHome90 1 memo; <br /> <br />L:\boardmem\SepI01\16a Sept 01 Consolidated Home <br /> <br />5 <br />