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Action: A motion was made by Don Schwindt with a second by Eric Wilkinson to approve staff recommendation for a loan not to exceed $129,785 ($128,500 for project costs and $1,285 for the 1% Loan Service Fee) to the Beaver Reservoir Company for engineering and construction costs associated with the Beaver Reservoir Liner Protection & Valve Replacement Project, from the Severance Tax Trust Fund Perpetual Base Account. The terms shall be based on the current agricultural rate of2.5% per annum for a 30-year term. Final approval of the loan shall be conditioned upon all standard contracting provisions of the CWCB Loan Program. Security for the loan shall be collateral in compliance with CWCB Loan Policy #5. Motion was approved 8-0. Russell George and Bob Burr were not present. . b. Buffalo Farms Water Development, LLC - Groundwater Recharge Project Tape 2, Track 1 1:20:36-1:47:00 A motion was made by Tom Sharp with a second by Eric Wilkinson to approve staff recommendation for a loan not to exceed $195,435 ($193,500 for project costs and $1935 for the 1 % Loan Service Fee in accordance with CWCB Loan Policy #16), to Buffalo Farms Water Development, LLC, from the Severance Tax Trust Fund Perpetual Base Account, to enhance and expand an existing groundwater recharge project for well augmentation, and to pay expenses already incurred. The recommended terms of the loan are 20 years at 2.25% per annum. Security for the loan will be a first lien on real estate with a total value equal to or greater than the CWCB loan amount, including a 14 % interest in the project being financed to cover the augmentation requirements of the well being provided with the collateral land. Staff further recommends that final approval of the loan be conditioned upon all other standard contracting provisions of the CWCB. Also, the principals will be required to be personally and jointly and severally guarantee the loan. Motion was approved 8-0. Russell George and Bob Burr were not present. . c. Upper Arkansas Water Conservancy District - North Fork Reservoir Rehabilitation and Expansion Project Tape 2, Track 1 1 :47:00 -2:03:00 Action: A motion was made by Harold Miskel with a second by Eric Wilkinson to approve staff recommendation for a loan not to exceed $3,009,800 ($2,980,000 for project costs and $29,800 for the 1% Loan Service Fee) to the Upper Arkansas Water Conservancy District acting by and through the District's Water Activity Enterprise Fund for engineering and construction costs associated with the North Fork Reservoir Rehabilitation and Expansion Project, from the Severance Tax Trust Fund Perpetual Base Account. The terms shall be based on a blended rate of 3.0% per annum for a 30- year term. Final approval of the loan shall be conditioned upon all standard contracting provisions of the CWCB Loan Program. Security for the loan shall be collateral in compliance with CWCB Loan Policy #5. Motion was approved 8-0. Russell George and Bob Burr were not present. Action: d. Well Augmentation Sub-District of the Central Colorado Water Conservancy District - Water Rights Purchase and Gravel Pit Storage Tape 2, Track 1 2:03:00 - 2:25:32 Action: A motion was made by Eric Wilkinson with a second by Barbara Biggs to approve staff recommendation for a loan not to exceed $20,200,000 ($20,000,000 for project costs and $200,000 for the 1% Loan Service Fee in accordance with CWCB Loan Policy #16), to the Well Augmentation Subdistrict of the Central Colorado Water Conservancy District, from the Severance Tax Trust Fund Perpetual Base Account, to purchase water . rights and to construct lined gravel pit storage. The recommended terms of the loan are 30 years at 2.50% per annum. Security for the loan will be a pledge of general revenues received from property taxes, as authorized by the Well Augmentation Subdistrict's Flood Protection. Water Project Planning and Finance. Stream and Lake Protection Water Supply Protection. Conservation Planning