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<br />! <br />j <br /> <br />e <br /> <br />. <br /> <br />e <br /> <br />< <br /> <br />The City staff will be available at the Board meeting to answer questions and <br />provide additional project design and construction details, <br /> <br />STAFF RECOMMENDATIONS <br /> <br />Staff recommends that the Board approve a loan increase to the City of <br />Ouray, acting by and through its Pool Enterprise, original 1999 loan in the amount of <br />$30,000 for a total loan amount of $55,000 under the following conditions: <br /> <br />1. Terms of the additional loan amount would be at the FY2000 rate for municipal <br />middle income interest rate of 4.75 for 20 years. <br />2. The loan is for up to 35% of the total project cost, or $55,000, whichever is less, <br />3. As security for the entire loan amount of ~5~ 000, the City will pledge and encumber <br />Pool Enterprise revenues. Staffr~~a;e Board accept the pledge of revenues, <br />backed by a rate covenant and annual financial reporting, as security for the loan and <br />rescind the requirement that the City pledge its 1996 GMC 3/4 ton pickup truck (VIN <br /># lGTHK34R2T) and a John Deere model 955 tractor (Serial # LV0955E192607) <br />that the Board approved in 1999 . <br />4. The loan increase shall be contingent upon all standard-contracting provisions of the <br />CWCB. <br /> <br />L:/boardmemljan2000/lle.doc <br />