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<br />I <br /> <br />,". <br /> <br />2.3 The CWCB loan or loans shall be used to enable power users to participate financially in <br />the construction of capital projects designed to recover endangered fish. . <br />2.4 The loan or loans shall be negotiated in consultation with Salt Lake City Area Integrated <br />Projects (SLCA-IP) firm power contractors and shall be structured to minimize impacts <br />on SLCA-IP power rates. <br />2.5 The revenues received by Western from SLCA-IP will be used to repay the loan or loans <br />to the CWCB Construction Fund. <br />2.6 Western shall repay the loan or loans, including principal and interest, no later than <br />September 30, 2057. <br />2.7 The funds loaned to Western may be provided pursuant to 37-60-119 C.R.S. and . <br />37-60-120 C.R.S. that give the CWCB the authority to loan money for the benefit of the <br />people of the state; and specifically pursuant to the provisions of37-60-122.9 C.R.S. that <br />gives the CWCB the authority to loan money for endangered fish recovery program <br />capital projects. <br /> <br />3. Terms <br /> <br />. <br /> <br />3.1 Within one-year from the date Western determines it requires a loan, the CWCB, <br />Reclamation and Western, in consultation with SLCA-IP firm power contractors, shall <br />enter into a contract that shall include, but not be limited to, the following: <br />3.1. I A provision or provisions specifying the amount of the loan, the interest rate, and the <br />repayment period of the loan. THE INTEREST RATE SHALL BE CONSISTENT WITH <br />CWCB POLICY AND PRECEDENT FOR MUNICIPAL LOANS, AGRICULTURAL <br />LOANS, OR LOANS WITH A BLENDED AGRlCUL TURALIMUNICIP AL INTEREST <br />RATE, AS APPROPRIATE, AND THE PROVISIONS OF THIS MOU THAT REQUIRE <br />CONTRACT TERMS TO BE DESIGNED TO MINIMIZE IMP ACTS ON SLCA-IP <br />POWER RATES. <br /> <br />3.1.2 A provision or provisions stating that Western may repay the CWCB in one lump sum or <br />in periodic payments that include principal and interest. These provisions shall also <br />establish a procedure by which Western may elect to not remit a loan payment for the <br /> <br />6 <br /> <br />. <br />