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<br />-7 - <br /> <br />for State Parks. The CWCB strongly encourages adherence to that schedule <br />and asks that a letter from State Parks be put in the file stating that they have <br />looked at the project schedule and are in agreement with it. The motion was <br />passed 10-0. <br /> <br />d. South Side Irrigation Company - Rehabilitation of the South Side Ditch <br />Tape 2, <br />Track I, Start/Stop: 55:45 -1:12:00 <br />Action: A motion was made by Eric Wilkinson with a second by David Smith to <br />approve the staff recommendation of a CWCB Small Project Loan in the <br />maximum amount of $72,000 to the South Side Irrigation Company to <br />rehabilitate the South Side Ditch. The maximum loan amount may be <br />increased to $72,720 if the borrower elects to finance the I % loan service <br />charge in accordance with CWCB Policy #16. The recommended loan terms <br />are 30 years at 3.1 % or 20 years at 2.9%, at the borrower's option. Security <br />for the loan will be in compliance with CWCB Loan Policy #5. Staff further <br />recommends that final approval of the loan be conditioned upon all other <br />standard contracting provisions of the CWCB, including loan Policy #16 <br />(Loan Service Charges 1%). The motion was approved 10-0. <br /> <br />e. South Side Reservoir Company - Rehabilitation of the South Side Reservoir <br />Tape 2, <br />Track I, Start/Stop: 1:12:00 - 1:23:30 <br />Action: A motion was made by Eric Wilkinson with a second by David Smith to <br />approve the staff recommendation of a CWCB Small Project Loan in the <br />maximum amount of $360,000 to the South Side Reservoir Company to <br />rehabilitate the South Side Reservoir Dam. The maximum loan amount may <br />be increased to $363,600 if the borrower elects to finance the I % loan service <br />charge in accordance with CWCB Policy #16. The recommended loan terms <br />are 30 years at 3.1 % or 20 years at 2.9% at the borrower's option. The <br />security for the loan will be in compliance with CWCB Loan Policy #5. Staff <br />further recommends that final approval of the loan be conditioned upon all <br />other standard contracting provisions of the CWCB, including loan Policy #16 <br />(Loan Service Charges 1%). The motion was approved 9-0. Bob Burr was <br />not present. <br /> <br />f. Town of Paonia - Purchase of Water Rights <br />Tape 2, <br />Track I, <br />Action: <br /> <br />Start/Stop: 1:23:30 - 1:59:00 <br />A motion was made by Keith Catlin with a second by Carolyn McIntosh to <br />approve the staff recommendation, with the addition of a Condition #5 to <br />make a CWCB Small Project Loan from the Construction Fund for <br />$1,000,000 to the Town of Paonia, acting by and through its water activity <br />enterprise, for the buy-back and retirement of 317 unused out-of-town water <br />taps associated with the purchase of the Ark Land Property. The <br />recommended term of the loan is 30 years and the recommended lending rate <br />is 3.75% per annum. Security for the loan will be a pledge of water rate <br /> <br />Flood Protection. Water Project Planning and Finance. Stream and Lake Protection <br />Water Supply Protection. Conservation Planning <br />