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<br />Upper Platte and Beaver Canal Company <br />March 21-22, 2002 <br /> <br />Agenda Item 10. <br /> <br />Staff recommends an Emergency Loan not to exceed $83,000 to the Upper Platte and Beaver . <br />Canal Company to rehabilitate their diversion structure on the South Platte River, The <br />recommended term of the loan is 10 years and the recommended lending rate is 2.25%, <br />Security for the loan will be a pledge of assessmen~ revenues backed by assessment covenant <br />and the project itseif, ' <br /> <br />Staff also recommends a $2,500 grant from the CWCB Feasibility Study Small Grant Fund, to <br />pay for up to half of the cost of the Feasibility Study. <br /> <br />Staff further recommends that final approval of the loan be conditioned upon all other standard <br />contracting provisions of the CWCB. <br /> <br />cc: Philip Mortensen, President, Upper Platte and Beaver Canal Company <br />Jack Odor, P.E. <br />Linda Bassi, AGO <br /> <br />. <br /> <br />Attachment <br /> <br />C:\WP51\Proj-New\UPBCC 302memo; <br /> <br />L:\boar~mem\July01\10 - Mar02 Upper Platte and Beaver <br /> <br />. <br /> <br />4 <br />