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<br />- 10 - <br /> <br />the loan will be a first lien on the pledge of water charge and assessment revenues <br />backed by rate covenant and the project itself. <br /> <br />Staff further recommends that final approval of the loan be conditioned upon all other <br />standard contracting provisions of the CWCB. <br /> <br />Motion was approved 7-0. Russell George was not present. <br /> <br />26. Water Supply Planning and Finance Section - Changes to Existing Loans <br />Tape 1 Track 5 3:42:30 - 3:48:03 <br />a. Mildred L. Rothe - Well Augmentation / Recharge Project <br />Action: A motion was made by Eric Wilkinson with a second by David Smith to approve staff <br />recommendations for an increase of $26,237 ($25,977 for project costs and $260 for <br />the one-percent Loan Origination Fee, in accordance with CWCB Loan Policy #16) <br />from the Construction Fund, The additional $26,237 increment of funding would be <br />for 30 years at the present lending rate of2.5%. Security for the loan will be <br />collateral in accordance with CWCB Loan Policy #5 (a first lien on 640 acres ofland, <br />including improvements and water rights, located in Section 8, T5N, R59W, with a <br />value at least equal to the loan amount. <br /> <br />Staff further recommends that final approval of the loan be conditioned upon all <br />standard contracting provisions of the CWCB. <br /> <br />Motion was approved 7-0. Russell George was not present. <br /> <br />. <br /> <br />Tape I Track 5 3:48:03 - 3:52:00 <br />b. Owl Creek Reservoir Company - Owl Creek Res. Rehabilitation <br />Action: To be discussed at a future meeting. <br /> <br />MEETING ADJOURNED <br /> <br />. <br /> <br />Flood Protection. Water Project Planning and Finance. Stream and Lake Protection <br />Water Supply Protection. Conservation Planning <br />