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<br />. <br /> <br />-4- <br /> <br />Action: <br /> <br />A motion was made by Ray Wright with a second by Bob Burr to approve <br />staff recommendation to approve de-authorization of the loan authorization. <br />Motion was approved 9-0. Greg Walcher was not present. <br /> <br />. <br /> <br />8. Water Supply Planning and Finance - Construction Fund and Severance Tax Trust <br />Fund Perpetual Base Account New Loans <br />a. Colorado River Water Conservation District - Elkhead Reservoir Enlargement <br />Tape 1, Track 2 1:28:00- 1:30:00 <br />Action: A motion was made by Don Schwindt with a second by Greg Hoskin to <br />approve staff recommendation to authorize a loan from the Severance Tax <br />Trust Fund Perpetual Base Account in an amount up to $11,110,000 for <br />project costs and $110,000 for the 1 % Loan Service Fee, in accordance with <br />CWCB Loan Policy #16) to the Colorado River Water Conservation District <br />acting by and through its Water Projects Enterprise. The loan is for up to 57% <br />of the cost to enlarge Elkhead Reservoir. The recommended terms oftheloan <br />are 0 years at 3.75%. (Annual Percentage Rate of3.86%.) Security for the <br />oan will be a pledge of water sale revenues adequate to assure repayment of <br />the loan, in accordance with CWCB Loan Policy #5. <br /> <br /> <br />Funding for this project is contingent upon the CWCB's approval of an <br />Acquisition Agreement between the River district and the CWCB <br />~ permanently conveys to the CWCB 5,000 acre-feet of water from the <br />permanent fish pool and provides a lease for up to 2,000 acre-feet of water <br />annually from the temporary fish pool to the CWCB to maintain instream . <br />flows in the critical habitat reach of the Yampa River. <br /> <br />The final approval of the loan is conditioned upon standard contracting <br />provisions ofthe CWCB. <br /> <br />Motion was approved 8-0. Greg Walcher and Harold Miskel were not <br />present. <br /> <br />b. New Cache Poudre Irrigation Company - New Reservoir Construction <br />Tape 1, Track 2 1 :30:00 - 1 :49:00 <br />Action: A motion was made by Don Schwindt with a second by David Smith to accept <br />staff recommendation to authorize a loan not to exceed $7,272,000 ($7,200,00 <br />for project costs and $72,000 for the 1% Loan Service Fee in accordance with <br />~___ t}lI' rWCB Loan Policy #16), to the New Cashe la Poudre Irrigating Company <br />from the CWCB Construction Fund, to construct an equalizer reservoir, two <br />additional storage reservoirs, and a pumping station and inter-connecting <br />pipeline, and to refinance existing debt related to the project. The <br />recommended terms ofthe loan are 30 years at 2.5% annum. <br /> <br />The final approval ofthe loan is conditioned upon all other standard <br />contracting provisions of the CWCB. <br /> <br />. <br /> <br />Motion was approved 8-0. Greg Walcher was not present. Eric Wilkinson <br />recused himself. <br />Flood Protection. Water Project Planning and Finance. Stream and Lake Protection <br />Water Supply Protection. Conservation Plarming <br />