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<br />" <br /> <br />(i~\ <br />"," " <br /> <br />Action: <br /> <br />Lewis Entz recused himself from this item. A motion was made by Greg <br />Walcher to approve the revised staff recommendation to defer two <br />December payments (1999 and 2000) for Contract No. Cl53386 and one <br />August 2000 payment for Contract No. Cl53478, with the added <br />determination that Mike Serlet and his staff would work with the Board <br />and the District on a feasibility study to determine a long-term solution. <br />The motion was seconded by David Smith and approved unanimously (9- <br />0). <br /> <br />11 b. Water Supply Planning and Finance - Changes in Existing Loans- Lower Elk River <br />Flood Association - Floodplain Management Plan <br />Tape 2, Start/Stop: 2497 - 3005 <br />Action: A motion was made by Bob Burr to accept the staff recommendation to <br />authorize up to $15,000 in additional funding (a new total of $25,000) for <br />allocation to the Lower Elk River Flood Association for construction of a <br />demonstration mitigation project on the Lower Elk River, and with the <br />understanding that some adequate cost-share will be needed to accomplish <br />this project. The motion was seconded by Ray Werner and approved <br />unanimously (10-0). <br /> <br />l1c. Water Supply Planning and Finance - Changes in Existing Loans- Pine River Canal <br />Co. - Tunnel Project <br />Tape 2, Start/Stop: 3005 - 3403 <br />Action: A motion was made by Patricia Wells to accept the staff recommendation <br />to contract for a loan not to exceed $243,700 to the Pine River Canal <br />Company to complete the tunnel hill project, without requiring parity with <br />an existing Company debt of $48,247.50 for a period of 20 years at a rate <br />of3.5%, with the understanding the Board will have a blanket security <br />interest in all Company assets after the outstanding $48,247.50 loan is <br />-. ----- . - - ___.repaicLinfulLIhe.motionwas seconded-by..Don.Schwindtand approved <br />unanimously (9-0). <br /> <br />l1d. Water Supply Planning and Finance - Changes in Existing Loans - Boulder and <br />Lefthand Irrigation Company - Twin Lakes Reservoir Rehabilitation <br />Tape 2, Start/Stop: 3409 - 3505 <br />Action: A motion was made by Ray Werner to accept the staff recommendation to <br />increase the existing $50,000 loan to $1 VU,OOO for up to 75% of the cost of <br />construction for a new outlet and spillway space. The motion was <br />seconded by Eric Kuhn and approved unanimously (9-0). <br /> <br />lIe. Water Supply Planning and Finance- Changes in Existing Loans - Leroux Creek <br />Water Users Association - Carl Smith Dam Rehabilitation <br />Tape 4, Start/Stop: 1112 - 1414 <br />Action: A motion was made by Don Schwindt to increase the loan by $200,000 for <br />a total of$ I ,450,000 at 3.75% for a period of30 years, with the <br /> <br />Minutes November 22-23, 1999 <br />Page 7 <br />