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<br />The subject pol~cies are as follows: <br /> <br />Policy #1 <br /> <br />Policy #2 <br /> <br />Policy #3 <br /> <br />Policy #4 <br /> <br />Policy #5 <br /> <br />Discussion <br /> <br />. <br /> <br />Construction Fund and Severance Tax Perpetual Base Account Project <br />Time Limits <br />Procedure for Ensuring the Completion and Approval of Adequate <br />Construction Fund and Severance Tax Perpetual Base Account Project <br />Feasibility Studies Prior to Contracting and Disbursement of Loan Funds <br />Construction Fund and Severance Tax Perpetual Base Account Loan <br />Delinquency, Loan Restructuring and Collection <br />Construction Fund and Severance Tax Perpetual Base Account Borrower <br />Creditworthiness and Financial Need Determinations <br />Collateral for Construction Fund and Severance Tax. Perpetual Base <br />Account Project Loans <br /> <br />The CWCB has steadily been adopting more efficient procedures for <br />administering the program. The CWCB's audit implementation plan addresses all 18 of <br />the State Auditor's recommendations and is comprised of eight major elements. One of <br />those elements is to Review Policy Issues with Key Constituencies. These policy issues <br />were discussed at a workshop during the Water Congress Meetings in January 1999 <br />attended by several Board members. Staff has reviewed the comments made by the <br />workshop attendees and the CWCB Board at their July Meeting and has developed the 5 . <br />proposed Policies under consideration. <br /> <br />Recommendations <br /> <br />Staff recommends that: <br /> <br />The Board adopt the following five policies in order to provide a more efficient <br />administration of the Construction Fund and Severance Tax Perpetual Base Account <br />project loan program: <br /> <br />Policy #1 <br /> <br />Policy #2 <br /> <br />Policy #3 <br /> <br />Policy #4 <br /> <br />Policy #5 <br /> <br />Construction Fund and Severance Tax Perpetual Base Account Project <br />Time Limits <br />Procedure for Ensuring the Completion and Approval of Adequate <br />Construction Fund and Severance Tax Perpetual Base Account Project <br />Feasibility Studies Prior to Contracting and Disbursement of Loan Funds <br />Construction Fund and Severance Tax Perpetual Base Account Loan <br />Delinquency, Loan Restructuring and Collection <br />Construction Fund and Severance Tax Perpetual Base Account Borrower <br />Creditworthiness and Financial Need Determinations <br />Collateral for Construction Fund and Severance Tax Perpetual Base <br />Account Project Loans <br /> <br />. <br />