Laserfiche WebLink
<br />3. All standard contracting provisions of the CWCB Loan Program including a <br />revised Debt Service Reserve Fund Provision that requires two annual loan <br />payments, one payment set aside at the time of contract execution and one <br />third of an annual payment set aside at the time of each of the first three <br />annual loan payments. <br />Motion was approved 10 - O. <br /> <br />c. Young Creek Reservoir Company - Young Cr. Reservoir #1-2 Rehabilitation <br />Tape 1, Track 1 31 :00 - 46:25 <br />Action: A motion was made by Ray Wright with a second by Don Schwindt to approve staff <br />recommendation for a loan not to exceed $197,354 ($195,400 for project costs and <br />$1,954 for the 1 % Loan Service Fee in accordance with CWCB Loan Policy #16) to <br />the Young Creek Reservoir Company, from the Severance Tax Trust Fund Perpetual <br />Base Account, to perform initial rehabilitation on its Reservoir #1-2 dam, and to pay <br />expenses already incurred. The recommended terms of the loan are 30 years at 2.5% <br />per annum. Security for the loan will be collateral in compliance with CWCB Loan <br />Policy #5 (Collateral). <br /> <br />Final approval of the loan will also be conditioned upon all other standard contracting <br />provisions of the CWCB. <br /> <br />Motion was approved 10 - O. <br /> <br />d. Bull Creek Reservoir Canal and Power Company - Bull Creek Reservoir #1, #2, & #4 <br />Rehabilitation and Enlargement <br />Tape 1, Track 1 46:25 - 1:03 :33 <br />Action: A motion was made by Don Schwindt with a second by John Redifer to approve staff <br />recommendation for a loan not to exceed $599,940 ($594,000 for project costs and <br />$5,940 for the 1 % Loan Service Fee) to the Bull Creek Reservoir, Canal and Power <br />Company for engineering and construction costs associated with the Bull Creek <br />Reservoir Nos. 1,2 and 4 Rehabilitation and Enlargement Project, including payment <br />of the current Palisades National Bank loan and other expenses already incurred, <br />from the Severance Tax Trust Fund Perpetual Base Account. The terms shall be <br />based on the current agricultural rate of 2.5% per annum for a 30-year term. Final <br />approval of the loan shall be conditioned upon all standard contracting provisions of <br />the CWCB Loan Program and SEO/Division Engineer approval of the deadline <br />extension for the Stipulation and Agreement compliance. Security for the loan shall <br />be collateral in compliance with CWCB Loan Policy #5. <br /> <br />Motion was approved 10 -D. <br /> <br />e. Larimer and Weld Irrigation Company - Lake Lee Dam Check Structures and Big Windsor <br />Lake Inlet Structure Rehabilitation. <br />Tape 1, Track 1 1:03:33 -1:15:35 <br />Action: A motion was made by Eric Wilkinson with a second by Barbara Biggs to approve <br />staffrecommendation for a loan not to exceed $1,515,000 ($1,500,000 for project <br />costs and $15,000 for the 1 % Loan Service Fee in accordance with CWCB Loan <br />Policy #16), to the Larimer and Weld Irrigation Company from the Severance Tax <br />Trust Fund Perpetual Base Account, to rehabilitate several structures on the Larimer <br />and Weld Ditch, including replacement of the Lake Lee Dam equalizer check <br />structure, the Big Windsor Reservoir check and inlet structure, and construction of a <br />new Finley check structure. The recommended term of the loan is 30 years and the <br />recommended lending rate is 2.5% per annum. Security for the loan will be collateral <br /> <br />Flood Protection. Water Project Planning and Finance. Stream and Lake Protection <br />Water Supply Protection. Conservation Planning <br />