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<br />Agenda Item 22, <br />March 10, 1998 <br /> <br />Page 4 <br /> <br />,~ <br />n ,:L,~.r-J) <br />STAFF RECOMMENDATION I, >11fL IOO~() ~. <br /> <br />IiJ That a Construction Fund Authorization in an amount of $1,700,000, not to exceed <br />~M. 100% of actual costs, be recommended for Groundwater Appropriators of the South <br />Platte (GASP), to construct the Sedgwick Augmentation Reservoir and related <br />. (J; AJ I structures, and <br /> <br /> <br />2, That the rmancing terms for this Construction Fund Authorization shall be a 40 year <br />loan at an annual percentage rate of 1.5% for the fIrst 10 years of the loan, and an <br />annual percentage rate of 3% for the remaining 30 years of the loan, and <br /> <br />3. That loan approval shall be contingent upon an affirmative vote of the GASP <br />membership approving the loan and any increase in membership assessments that may <br />be necessary for repayment of the loan, and upon all standard contracting provisions of <br />the CWCB, as determined by the CWCB Director, and <br /> <br />4. That collateral for the loan shall be a security interest in the stream of income derived by <br />GASP from member assessments, and other collateral to be determined, as approved by <br />the CWCB Director. <br /> <br />Attachments <br />D:\mydocsGASPl97memo <br /> <br />-..I, ::~~ <br /> <br />.e <br /> <br />e <br /> <br />,tt <br />