BOARD01440

• Board Meeting Date: 3/10/1998
• Description: Summary Minutes and Record of Decisions - March 10-11, 1998
• Board Meetings - Doc Type: Minutes

1. Review and Approval of Agenda and Next Meeting Dates
Tape 1, Start/Stop: 0001 - 0380
Action: The following changes were made to the agenda: item 13c was deleted, and a
correction was made to the bill reference in 17g to read HB-98-1288. Item 18
c(v). will be held in the late afternoon on the first day. It was agreed that the
May meeting will be held on May 11-12 in Grand Junction, with a field trip
planned to view local water projects. It was also agreed that the July Board
Meeting will be held in Telluride on July 13-14, 1998. The September was
scheduled for September 21-22,1998 in Buena Vista, and the November 23-
24, 1998 meeting will be held in Denver. A motion was made by Alan
Hamel that the agenda be approved with these changes. The motion was
seconded by Janice Sheftel and approved unanimously (7-0).

2. Review and Approval of January 1998 Minutes
Tape 1, Start/Stop: 0380 - 0550
Action: The following revisions were suggested by the Acting Director, Peter Evans:
Changes to language in Agenda Item 8a, top of page beginning at "3.75%
rate for 20 years", but with 3 amendments to that section. Subset 1) That the
land be placed into a conservation easement after our position... (replaces
"trust"); subset 3) That the $2,500 grant for the feasibility study (insert).
Changes to language in Agenda 8b: "Motions made by Allen Davey to
accept the staff recommendation to approve this $125,000 loan at a 4% rate
for 30 years but with the provisions that the company is required to raise their
assessments prior to receiving the loan if an assessment increase is necessary
to make the loan payment, and that if any portion of the water use changes to
municipal, a blended interest rate will be calculated based on rates in effect at
that time and will become effective at the time the change occurs. The
amended motion was seconded by Ray Werner and approved unanimously."
And "it was decided that these two issues be added to the standard
contracting terms, and that all standard contracting terms will be provided to
the Board for their information at the next meeting." Agenda item 10:
"Revised parity lien test" - remove "parity". Agenda item 13b: after
parenthetical insert, add "allowing refinancing of the project and alernative
loan terms." Item 29h - typographical error. Item 30 - clarify reference to
Anderson Dude letter. A motion was made by Janice Sheftel to accept these
revised minutes. The motion was seconded by Alan Hamel, and approved
unanimously (7-0).

3. Directors' Reports - CWCB, DOW, SEO, AG, EDO, CWR&PDA
Tape 1, Start/Stop: 0500 - 3000
Action: Status reports from CWCB, SEO, DOW, AGO, CWR&PDA were heard.

Minutes March 10-11, 1998