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<br />Low Line Ditch Company <br />March 24-26, 2003 <br /> <br />Agenda Item 25a <br /> <br />Recommendation . <br />Staff recommends that the existing CWCS Small Project Loan to the Low Line Ditch Company <br />be increased from $94,500 up to $159,750 to allow additional financing to rehabilitate the <br />Company's diversion structure on the South Platte River. The recommended term of the loan is <br />20 years at 2.5% (2.61% Annual Percentage Rate.) Security for the loan will be in compliance <br />with CWCS Loan Policy #5 (Collateral). The loan will:be funded from the Construction Fund. <br /> <br />Staff further recommends that final approval of the loan be conditioned upon all other standard <br />contracting provisions of the CWCS, including the 1O/p loan service fee charged in accordance <br />with CWCS Policy #16. The maximum loan amount may be increased to $161,347.50 if the <br />borrower elects to finance the 1 % loan service fee. <br /> <br />cc: Steve Kaiser, Low Line Ditch Co. <br />Brent Nation, P.E. <br />Linda Bassi, AGO <br /> <br />Attachment <br /> <br />C:Proj-NewILowLine 303 memo; L:lboardmemIMarch03\25a" Low Line Ditch <br /> <br />4 <br /> <br />. <br /> <br />. <br />