BOARD01133

• Board Meeting Date: 3/10/1998
• Description: Summary Minutes and Record of Decisions - March 10-11, 1998
• Board Meetings - Doc Type: Memo

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2.

Review and Approval of January 1998 Minutes
Tape I, Start/Stop: 0380 - 0550

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Action:

The following revisions were suggested by the Acting Director, Peter Evans:
Changes to language in Agenda Item 8a, top of page beginning at "3.75%
rate for 20 years", but with 3 amendments to that section. Subset 1) That the
land be placed into a conservation easement after our position.. . (replaces
"trust"); subset 3) That the $2,500 grant for the feasibility study (insert).
Changes to language in Agenda 8b: "Motions made by Allen Davey to
accept the staff recommendation to approve this $125,000 loan at a 4% rate
for 30 years but with the provisions that the company is required to raise
their assessments prior to receiving the loan if an assessment increase is
necessary to make the loan payment, and that if any portion of the water use
changes to municipal, a blended interest rate will be calcwated based on
rates in effect at that time and will become effective at the time the change
occurs. The amended motion was seconded by Ray Werner and approved
unanimously." And "it was decided that these two issues be added to the
standard contracting terms, and that all standard contracting terms will be
provided to the Board for their information at the next meeting." Agenda
item 10: "Revised parity lien test" -remove "parity". Agenda item l3b:
after parenthetical insert, add "allowing refinancing of the project and
a1ernative loan terms." Item 29h - typographical error. Item 30 - clarify
reference to Anderson Dude letter. A motion was made by Janice Sheftel to
accept these revised minutes. The motion was seconded by Alan Hamel,
and approved unanimously (7-0).

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3. Direetors' Reports - CWCB, DOW, 8EO, AG, EDO, CWR&PDA
Tape I, Start/Stop: 0500 - 3000
Action: Status reports from CWCB, SEO, DOW, AGO, CWR&PDA were heard.

4a. Floodplain Management - 1998 Flood Hazard Mitigation Plan
Tape 1, Start/Stop: 3000 - 3537
Action: A motion was made by Eric KIIhn that the Board accept the presented
revised plan entitled "Flood Hazard Mitigation Plan for Colorado, February
1998". The motion was seconded by Alan Hamel and approved
unanimously (8-0).

4b. Floodplain Management - 1997 Flood Hazard Mitigation Grant Program - Funding
Tape I, Start/Stop: 3537 - 4080
Action: A motion was made by Janice Sheftel that the Board approve the staff
recommendation to reallocate previously commissioned funds from another
flood program to make up the Hazard Mitigation Grant Program shortfall, if

Minutes March 10-11, 1998

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