BOARD01199

• Board Meeting Date: 1/20/1993
• Description: Agenda or Table of Contents, Minutes, Memos. Partial.
• Board Meetings - Doc Type: Meeting

staff recommendation criteria, and credit and security procedures. General discussion e
between Bob Jackson, Janice Sheftel, Jim Lochhead, Chuck Lile, David Harrison and Ken
Salazar ensued. A report for the Board's consideration will be provided to the Board
members prior to the February 19, 1993 workshop, No action was taken.

12b. Recommended Procedures on Demonstration Grant Project (4:21 - 4:21 p.m.)

This Agenda Item was rescheduled for Thursday, January 21, 1993, due to time
constraints for discussion of the Construction Fund issues.

12d. Construction Fund Program - Recommended Projects' (4:21 - 6:05 p.m.)

Bill Stanton gave a presentation on the current financial status of the Construction Fund
including Construction Project Applications, Non-reimbursable Projects and Potential
Construction Projects, There was general discussion regarding the management of funding
for the various projects under these categories by Ken Salazar, David Harrison, Bob
Jackson, Tyler Martineau, Jim Lochhead, Janice Sheftel, Leo Eisel, Ray Wright and
Chuck Lile, Results from this discussion identified the funds available for the Board to
approve loan requests for FY 93-94.

LoloffLateral Ditch Companv - A motion was made by Ray Wright that the CWCB seek ..
approval from the legislature to make a loan of $71,500 to the Loloff Ditch Company ..
from the Construction Fund for a period of 40 years at a 5% interest rate. The motion
was seconded by David Harrison. The motion passed (7-1), with Dave Meyering not in
favor.

The Mesa Linda Property Association - A motion was made by Bob Jackson that the
CWCB seek approval from the legislature to make a loan of $32,000 to the Mesa Linda
Property Association from the Construction Fund for a period of 10 years at a 7% interest
rate, The motion was seconded by Janice Sheftel. The motion passed unanimously (8-0).

Pagosa Area Water & Sanitation District - A motion was made by David Harrison to seek
approval from the legislature to make a loan of $1,912,000 to the Pagosa Water and
Sanitation District from the Construction Fund for a period of 10 years at a 5% interest
rate. The motion was seconded by Ray Wright. The motion passed (7-0), with Janice
Sheftel abstaining,

Spring Creek Extension Ditch Companv - A motion was made by Janice Sheftel to seek
approval from the legislature to make a loan of $46,000 to the Spring Creek Ditch
Company from the Construction Fund for a period of 20 years at a 5% interest rate, The
motion was seconded by Leo EiseL The motion passed unanimously (8-0).

DD&E Wise Dam - A motion was made by Dave Meyering to seek approval from the __
legislature to make a loan of $50,000 loan for the DD&E Wise Dam from the
Construction Fund for a period of 20 years at a 2% interest rate. The motion was

8