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<br />15. <br /> <br />.j <br /> <br />Water Project Construction Loan Program - Changes in Existing Loans - Lower <br />Arkansas Water Management Association - Amended Water Rights Purchase <br />Tape 3, Start/Stop: 4437 - 4605 <br />Action: A motion was made by Patricia Wells to accept the staff recommendation to <br />approve an amendment to the contract to allow the purchase of any <br />combination of shares in the Amity Mutual Irrigation Company, the Fort <br />Bent Ditch Company, the HigWand Irrigation Company, and the Las <br />Anim~ Consolidated Canal Company up to the limit of funds available <br />under the contract, to be pledged as collateral to the loan with the exception <br />of one share of the LACC, which would be traded for HigWand shares. The <br />motion was seconded by David Smith and approved unanimously (10-0). <br /> <br />e <br /> <br />17. Water Project Construction Loan Program - Proposed Revisions to Parity Policy <br />Tape 3, Start/Stop: 4605 - 4652 <br />Action: This agenda item was delayed to the July meeting agenda. <br /> <br />19a. Instream Flow Program - Summary of Resolved Cases <br />Tape 3, Start/Stop: 0000 - 0000 <br />Action: Items (l) and (3) were deleted from the agenda, This item was not <br />discussed; informational item. <br /> <br />19b. Instream Flow Program - De minimis Cases <br />Tape 3, Start/Stop: 0000 - 0000 <br />Action: This item was not discussed; informational item. <br /> <br />. <br /> <br />20.a - <br />g. <br /> <br />21. <br /> <br />Water Project Construction Loan Program - General and Financial Matters <br />Tape 3, Start/Stop: 0000 - 0000 <br />Action: This item was not discussed; informational item. <br /> <br />Water Project Construction Loan Program - Emergency Loan Account - Model <br />Land & Irrigation Company - Model Reservoir <br />Tape 3, Start/Stop: 3484 - 4300 - <br />Action: A motion was made by Patricia Wells to approve this loan from the <br />Emergency Loan Account for $335,000 or up to 50% of the project cost, for <br />a term of30 years at the 1999 agricultural rate of 3.75% with the following <br />conditions: 1) a completed feasibility study is submitted, 2) a final <br />determination of acceptability of the feasibility study is made by the staff; 3) <br />adequate collateral is presented in the form of pledged revenues from <br />assessments and shall be free ofliens and encumbrances; 4) the CWCB loan <br />will have parity with any existing loans; 5) the applicant will commit to <br />comply with the terms of the Division 2 Engineer's administrative order. 6) <br />The applicant will continue to pursue any other possible sources of funding; <br /> <br />Minutes May 24-25, 1999 <br />Page 8 <br /> <br />e <br />