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<br />, <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />-5 - <br /> <br />c. . Groundwater Management sub-district ofthe Central Colorado Water Conservancy District- <br />Water Rights Purchase and Storage Construction <br />Tape I, Track 2 1:49:00-2:25:13 <br />Action: A motion was made by Bob Burr with a second by Ray Wright to approve the <br />staff recommendation to provide an additional Small Project Loan from the <br />Construction Fund in amount up to $5,000,000 ($4,950,495 for project costs <br />and $49,505 for the 1 % Loan Service Fee, in accordance with CWCB Loan <br />Policy #16) to the Ground Water Management Subdistrict of the Central <br />Colorado Water Conservancy District. The loan is for up to 90% of the costs <br />of a project to purchase senior water rights and to construct water storage and <br />recharge facilities for augmentation purposes. The recommended loan terms <br />are 30 years at 2.5% (2.58% Annual Percentage Rate). Security for the loan <br />will be a pledge of tax revenues backed by rate covenant, in accordance with <br />CWCB <br /> <br />Final approval of the loan is conditioned upon standard contracting provisions <br />of the CWCB. <br /> <br />Motion was approved 7-0. Greg Walcher, Carolyn McIntosh and Harold <br />Miskel were not present. <br />d. Greeley Loveland Irrigation Company - Boyd Lake Spillway Reconstruction <br />Tape I, Track 2 2:25: 13 - 2:36:30 <br />Action: A motion was made by Greg Hoskin with a second by David Smith to approve <br />the staff recommendation to provide a Small Project Loan, not to exceed <br />$2,844,000 ($2,815842 for project costs and $28,158 for the 1% Loan Policy <br />#16), to the Greeley and Loveland Irrigation Company from the Construction <br />Fund to construct a new spillway at Boyd Lake. The recommended term of <br />the loan is 30 years and the recommended lending rate is 3.00% per annum. <br />Security for the loan will be a pledge of assessment revenues backed by <br />assessment covenant and the project itself. <br /> <br />Final approval of the loan is conditioned upon all other standard contracting <br />provisions of the CWCB. <br /> <br />Motion was approved 7-0. Greg Walcher, Carolyn McIntosh and Harold <br />Miskel were not present. <br />e. Johnson and Edwards Ditch Company - Well Augmentation Project <br />Tape I, Track 2 2:36:30 - 2:53: 18 <br />Action: A motion was made by Don Schwindt with a second by Bob Burr to approve <br />the staff recommendation to provide a Small Project loan from the <br />Construction Fund in amount up to $133,825 ($132,500 for project costs and <br />$1,325 for the 1 % Loan Service Fee, in accordance with CWCB Loan Policy <br />#16) to the Johnson and Edwards Ditch Company. The loan is for up to 90% <br />of the costs to construct a well augmentation and groundwater recharge <br />project and purchase water rights. The recommended loan terms is 30 years at <br />2.5% (2.58% Annual Percentage Rate), 20 years at 2.25% (2.36% Annual <br />Percentage Rate), or 10 years at 2% (2.20% Annual Percentage Rate), at the <br />borrower's option. Security for the loan will be a pledge of assessment <br />Flood Protection. Water Project Planning and Finance. Stream and Lake Protection <br />Water Supply Protection. Conservation Planning <br />