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<br />" <br />'" <br /> <br />Lower Platte and Beaver Canal Company <br />January 27-28, 2004 <br /> <br />Agenda Item 14a. <br /> <br />Recommendation <br />Staff recommends a Small Project Loan from the Construction Fund in amount up to $313,605 <br />($310,500 for project costs and $3,105 for the 1 % Loan Service Fee, in accordance with CWCS <br />Loan Policy #16) to the Lower Platte and Seaver Canal Company. The loan is for up to 90% of <br />the costs to construct a well augmentation and groundwater recharge project., The <br />recommended loan terms are 30 years at 2.5% (2.58% Annual Percentage Rate), 20 years at <br />2.25% (2.36% Annual Percentage Rate), or 10 years at 2% (2.20% Annual P rcentage Rate), <br />at the borrower's option. Security for the loan will be a pledge of assessment evenues backed <br />by assessment covenant and other Company property adequate to assure r payment of the <br />loan, in accordance with CWCS Loan Policy #5. . <br /> <br />. <br /> <br />Staff further recommends that final approval of the loan be conditioned up n all standard <br />contracting provisions of the CWCS. <br /> <br /> <br />cc: Robert Tuck, President, Lower Platte and Beaver Canal Company <br />Brent Nation, P.E. <br />Linda Bassi, AGO <br /> <br />~Ptdcj r/fA~"JA1 <br /> <br />Attachment <br /> <br />C:IProj-NewILPBCC 104 memo; <br /> <br />L:lboardmemlJan04114a - Lower Platte and ~eaver ,~ <br /> <br />{A<.~ (}YSk. <br />fiJ f1JA ~~- <br />0JAt <br /> <br /> <br />. <br /> <br />4 <br />