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<br />- 10- <br /> <br />The motion was approved 9-0. Greg Walcher was not present. <br /> <br />25. Water Supply Planning and Finance Section - Changes to Existing Loans <br />Tape 3, Track 1 4:46:00 - 4:53:00 <br />a. Low Line Ditch Company - Well Augmentation Project <br />Action: A motion was made by Greg Hoskin with a second by Carolyn McIntosh to <br />approve the staff recommendation that the existing CWCB Small Project Loan <br />to the Low Line Ditch Company be increased from $94,500 to $159,750 to <br />allow additional financing to rehabilitate the Company's diversion structure <br />on the South Platte River. The recommended term of the loan is 20 years at <br />2.5% (2.61 % Annual Percentage Rate.) Security for the loan will be in <br />compliance with CWCB Loan Policy #5 (Collateral). The loan will be funded <br />from the Construction Fund. <br /> <br />The Board further recommends that final approval of the loan be conditioned <br />upon all other standard contracting provisions of the CWCB, including the 1 % <br />loan service fee charged in accordance with CWCB Policy #16. The <br />maximum loan amount may be increased to $161,347.50 if the borrower <br />elects to finance the 1 % loan service fee. <br /> <br />The motion was approved 9-0. Greg Walcher was not present. <br /> <br />26. Item was deleted from Agenda <br /> <br />27. Forest Service Bypass Flows in Special Use Permits <br />Tape 3, Track 1 4:00 - 28:00 <br />Action: A motion was made by Greg Hoskin with a second by David Smith to <br />authorize staff to take legal action with respect to the Arapahoe/Roosevelt <br />National Forest plan errata concerning by-pass flows and to prepare a legal <br />strategy to present at the next meeting regarding requiring bypass flows as <br />part of the forest permitting process. Motion was approved 9-0. <br /> <br />Greg Walcher was not present. <br /> <br />Consent Agenda 3a. <br />Tape 3 , Track 1 4:53:00-5:18:00 <br />Action: A motion was made by Greg Hoskin with a second by Harold Miskel to <br />approve the staff recommendation concerning a revision to financial policy <br />#16 under Procedure, Loan Contracts: A service fee of one percent (1 %) of <br />the amount loaned will be charged. The service fee will be added to the loan <br />amount at the time of the project and will be transferred into a CWCB <br />operational account. In no event shall the service fee exceed one percent (1 % ) <br />of the actual loan amount. Changing the collection of the 1 % loan service <br />charge from the date of Contract execution to the date of substantial <br />completion. <br /> <br />Colorado Water Conservation Board <br />Flood Protection. Water Project Planning and Finance. Stream and Lake Protection <br />Water Supply Protection. Conservation Planning <br />