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<br />Amity Muluallrrlgalion Co. <br />November 19-20. 2001 <br /> <br />Agenda Item 22d. <br /> <br />As security for the loan the AMIC will pledge assessment revenues backed by assessment <br />covenant and the project itself. This security is in compliance with CWCS Loan Policy #5 <br />(Collateral). <br /> <br />Recommendation <br />Staff recommends a CWCS Construction Fund Loan in amount of $360,000 (for up to 90% of <br />eligible project costs) to the Amity Mutual Irrigation Corrjpany for rehabilitation of the Neenoshe <br />Reservoir Dam. The recommended term of the loan is ~O years and the recommended lending <br />rate is the ewcs Agricultural lending rate for 2002. Se~urity for the loan will be a pledge of <br />assessment revenues backed by assessment covenant and the project itself. The loan will be <br />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. <br /> <br />cc: Donald Steerman, P.O. Box 390, Lamar, CO 8105~ <br />Terry Arnold, URS Corp., 8181 East Tufts Ave., Denver, ,CO 80237 <br />Linda Bassi, AGO . <br /> <br />Attachment <br /> <br />C:\WP51\Proj-NewlAll1ity 1101memo; <br /> <br />L:\boardmem\NoV01\ 22d Nov 01 Amity <br /> <br />4 <br /> <br />" <br /> <br /> <br />e <br /> <br />e <br /> <br />.e <br />