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<br />authorization", with the further revision on the last page of striking "low <br />income" and substituting the term "middle income municipalities in 1998". <br />The motion was seconded by Allen Davey and approved unanimously (8-0). <br /> <br />17b. Water Project Construction Loan Program - Requests for Approval on Loans for New <br />Projects - Blue Lake Owner's Association - Raw Water Irrigation <br />Tape 3, Start/Stop: 0607 - 11 06 <br />Action: A motion was made by Bob Burr that the Board accept the staff recommendation on <br />this new $900,000 loan as provided in the Board Memo. The motion was <br />seconded by Janice Sheftel and approved unanimously (8-0). <br /> <br />17c. Water Project Construction Loan Program - Requests for Approval on Loans for New <br />Projects - DeWeese-Dye Ditch & Reservoir Co. -- DeWeese Dam Rehabilitation <br />Tape 2, Start/Stop: 4717 - 5209 <br />Action: A motion was made by Alan Hamel that the Board accept the staff recommendation <br />on this new loan as provided in the Board Memo, with a change in the <br />language to "$734,000 or 90% of the cost of the project." The motion was <br />seconded by Eric Kuhn and approved unanimously (8-0). <br /> <br />17d. Water Project Construction Loan Program - Requests for Approval on Loans for New <br />Projects - Northern Colorado Water Association - Purchase of Wells and Water <br />Rights. <br />Tape 2, Start/Stop: 3986 - 4680 <br />Action: A motion was made by Alan Hamel that the Board accept the staff recommendation <br />on this new loan as provided in the Board Memo, with amendments requiring <br />that if the land is sold, the interest rate will revert back to the commercial <br />industrial rate and the loan is due; or this is placed in a conservation <br />easement so it cannot be sold to development, or some other form of <br />protection. In addition, with completion of feasibility studies appraisals, that <br />CWCB must be able to confirm transferability of the water, existence of the <br />augmentation plan, the actual amount of water available, if the transfer takes <br />place. The motion was seconded by Janice Sheftel and approved <br />unanimously (8-0). <br /> <br />17e. Water Project Construction Loan Program - Requests for Approval on Loans for New <br />Projects - Greeley and Loveland Irrig. Co. - System Rehabilitation. <br />Tape 2, Start/Stop: 5232 - 6160 <br />Tape 3, Start/Stop: 0001 - 0039 <br />Action: A motion was made by Eric Kuhn that the Board accept the staff recommendation on <br />this new loan as provided in the Board Memo, with the following <br />amendments: (1) that the lending rate be modified to 4.21 percent (the <br />blended rate), (2) in the event that the percent of municipal water use in the <br />Greeley and Loveland Irrigation Company should increase significantly <br /> <br />Minutes November 24-25,1997 CWCB Meeting <br />