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<br />. <br /> <br />. <br /> <br />. <br /> <br />The recommended funding is: <br /> <br />North Poudre Irrigation District <br />CWCB Funds (to be repaid by <br />water users fees) <br /> <br />$1,300,000 <br /> <br />1. 300,000 <br />$2,600,000 <br /> <br />TOTAL <br /> <br />Under this financing arrangement, annual charges would <br />be $75,764 for 40 years for a total repayment of <br />$3,030,560. Annual payments would be met through an <br />assessment on shareholders, which assessment is already <br />being levied. <br /> <br />Mr. Vandemoer moved, seconded by Mr. Smith, that <br />the project as described be recommended by the Board to <br />the General Assembly for authorization subject to the <br />terms of the proposed financing specified above. <br /> <br />Motion adopted unanimously. <br /> <br />8. <br /> <br />San Miquel Water Conservancy District - Phase II <br /> <br />This proposal was not included in the staff's <br />recommendation. However, at the request of Senator Dan <br />Noble, Representatives of the San Miguel Water <br />Conservancy District and the Southwestern Water <br />Conservation District presented this proposed project <br />for Board consideration. <br /> <br />As proposed, the Board would be authorized to <br />complete a total feasibility study for the San Miguel <br />River Basin at an estimated cost of $1,000,000 to be <br />financed 100 percent with Board funds. These funds <br />would be repaid if the project is constructed. The <br />total estimated cost of a completed project would <br />amount to $15,000,000 including the cost of the <br />feasibility study. Board funds would be limited to 50 <br />percent of the total estimated cost or $7,500,000 <br />(includes cost of feasibility study). The study would <br />proceed sequentially and each increment of the project <br />must be technically and financially feasible. The <br />Board would have the discretion to terminate the study <br />on each increment which was not feasible from an <br />engineering or financial standpoint. <br /> <br />FOllowing Board discussion, Ms. Sanfilippo moved, <br />seconded by Mr. Vandemoer, that the project as outlined <br />above be recommended to the General Assembly for <br />authorization sUbject to the conditions described above <br />and that the project would be assigned priority number <br />8 on the list of the projects recommended to the <br />General Assembly. Motion adopted unanimously. <br /> <br />-19- <br />