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<br />Action:
<br />
<br />- 8-
<br />
<br />A motion was made by Eric Wilkinson with a second by Ray Wright to approve
<br />the staffrecommendation for a loan not to exceed $249,975 ($247,500 for project
<br />costs and $2,475 fro the 1 % Loan Service Fee in accordance with CWCB Loan
<br />Policy #16), to the 3T Cattle Company, from the Severance Tax Trust Fund
<br />Perpetual Base Account, to purchase surface water rights to use for well
<br />augmentation, The recommended terms of the loan are 30 years at 2,5% per
<br />annum, Security for the loan will be the 5 shares of purchased Weldon Valley
<br />Ditch shares,
<br />
<br />The Board directs that final approval of the loan be conditioned upon all other
<br />standard contracting provisions of the CWCB, Further, staff recommends the
<br />following approval condition:
<br />The proceeds from the sale of any water rights purchased with this loan
<br />approval shall be used to reduce the outstanding balance of 3TCC' sloan
<br />with the CWCB,
<br />Motion was approved 9-0,
<br />
<br />22, Attorney General's Report & Legal Briefing - This is a background briefing on legal issues, The
<br />Board may refer to any of the items discussed under this topic to Agenda Item No, 23 for
<br />discussion in Executive Session if the Board has questions about the litigation, (4:45 - 5:00)
<br />a, Gunnison River CWCB ISF Application, Case No, 4-03CW265
<br />b, Upper Gunnison River Water Conservancv District RICD Litigation, Case No,
<br />4-02CW38
<br />Tape 3, Track 1 3:26:46 - 3:36:26
<br />Action: Information item. No formal action taken.
<br />
<br />23. Executive Session - The following matters may need to be discussed in Executive Session
<br />following a motion approved by the Board,
<br />Tape 3, Track 1
<br />Action:
<br />
<br />A motion was made by Don Schwindt with a second by Ray Wright to go into
<br />Executive Session to discuss the following agenda items: 23b, 23d, 23e, 23f,
<br />23g, 23h and 23i,
<br />a, Gunnison River CWCB ISF Application, Case No, 4-03CW265
<br />b, Gunnison River Federal Reserved Right Application, Case No, 4-
<br />OlCW05
<br />c, Upper Gunnison River Water Conservancy District RICD
<br />Litigation, Case No, 4-02CW38
<br />d, Upper Gunnison River Water Conservancy District, Case Nos, 4-
<br />02CW294,and 4-3CWI07
<br />e, Pueblo RICD Application, Case No, 2-OlCW160
<br />f. V. Paul Moltz, Case No, 2-02CW73
<br />g, Trout Unlimited v, USDA, Civil Action No, 96-WY-2686-WD, U,S,
<br />District Court for the District of Colorado
<br />h, Earth Justice and Grand Canyon Trust v, Interior and U,S, Fish and
<br />Wildlife Service - Reference Recovery Goals
<br />i, Catskill Mountains Chapter of Trout Unlimited v, New York City, U,S,
<br />Second Circuit Court of Appeals
<br />
<br />Motion was approved 9-0,
<br />24, Report from Executive Session
<br />Tape 3, Track 2 0-3:19
<br />
<br />Flood Protection. Water Project Planning and Finance. Stream and Lake Protection
<br />Water Supply Protection. Conservation Planning
<br />
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