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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13a. Water Project Construetion Loan Program - Small Project Loan Account - Farmers
Pawnee Canal Co.- Diversion Structure Rehabilitation
Tape 2, Start/Stop: 1816 - 1934
Action:A motion was made by David Smith to accept the staff recommendation that a
construction fund loan from the Small Project Account be approved for the
Farmers Pawnee Canal Company to rehabilitate their diversion dam and
headgate on the South Platte River, in the maximum amount of $29,000, not
to exceed 75% of the costs of the project, that the financing terms for this be
at an annual percentage rate of 3.5% for a duration of 10 years, and the loan
approval be contingent upon completion of the Feasibility Study, and upon
all standard contacting provisions of the CWCB, and that security for the
loan by a security interest in the stream of income derived by the Company
from assessments, and one payment in a certificate of deposit account to be
held by the State Treasurer. The motion was seconded by Eric Kuhn and
approved unanimously (7-0).

13b. Water Project Construction Loan Program - Small Project Loan Aecount - Boulder
and Lefthand Ditch Co. - Twin Lakes Reservoir Outlet Rehabilitation.
Tape 2, Start/Stop: 1934 - 2067
Action: A motion was made by Eric Kuhn Smith to accept the staff recommendation
that a construction fund loan from the Small Project Account be approved
for the Boulder and Lefthand Ditch Co. to rehabilitate the inlet and outlet
structures on the Twin Lakes Reservoir and drop structures on the ditch, in
the maximum amount of $50,000, not to exceed 75% of the costs of the
project, that the financing terms for this be at an annual percentage rate of
3.75% for a duration of 15 years, and the loan approval be contingent upon
completion of the Feasibility Study, and upon all standard contacting
provisions of the CWCB, and that security for the loan by a security interest
in the stream of income derived by the Company from assessments, and one
payment in a certificate of deposit account to be held by the State Treasurer.
The motion was seconded by David Smith and approved unanimollSly (7-0).

13c.

Water Project Construction Loan Program - Small Project Loan Account - Westeru
Mutual Ditch Co. - Diver Diversion Repair
Tape 2, Start/Stop: 0000 - 0000
Action: This item was deleted from the agenda.

14a.

Water Project Construction Loan Program - Native Aquatic Species Facility -
Proposed MOD with DOW
Tape 2, Start/Stop: 1400 - 1816
Action: A motion was made by Eric Kuhn that the Board authorize the Acting
Director to sign the draft MOD at such time as all feasibility investigations
by CWCB and CDOW staffs have been completed and final issues

Minutes March 10-11, 1998