BOARD01919

• Board Meeting Date: 11/24/1997
• Description: Summary Minutes and Record of Decisions - November 24-25, 1997
• Board Meetings - Doc Type: Minutes

during the term of the loan, the lending rate would be modified to reflect the
revised percentage of municipal use, and (3) this loan plus previous loans and
grants will not exceed 80 percent of the total project cost. The modified
motion was seconded by Janice Sheftel and approved unanimously (8-0).

17f. Water Project Construction Loan Program - Requests for Approval on Loans for New
Projects - Highland Ditch Company - Foothills Reservoir Dam Rehabilitation.
Tape 4, Start/Stop: 2266 - 2775
Action: A motion was made by David Smith to accept the amended staff recommendation for
a loan for $1,040,000 at the agricultural rate, for a duration of 30 years, as
well as a $3,000 feasibility study grant, and that this might possibly come out
of the severance tax fund. The motion was seconded by Allen Davey and
approved unanimously (8-0).

17g. Water Project Construction Loan Program - Requests for Approval on Loans for New
Projects - City of Fort Morgan - Raw Water Pipeline.
Tape 3, Start/Stop: 1113 - 1613
Action: A motion was made by David Smith that the Board accept the staff recommendation
on this $8,000,000 new loan as provided in the Board Memo, and that
$4,000,000 would be loaned from the Construction Fund, and $4,000,000 be
loaned from severance tax funds, and that the city would pledge water fund
revenues at parity with any other lender. The motion was seconded by Ray
Werner and approved unanimously (8-0).

Addendum
to
17g. Water Project Construction Loan Program - Requests for Approval on Loans for New
Projects - City of Fort Morgan - Raw Water Pipeline.
Tape 3, Start/Stop: 1613 - 1834
Action:A motion was made by Janice Sheftel that the Board authorize the Director to
execute the consent to parity that's been provided by the city and its water
enterprise, conditioned on staff and the Attorney General's Office reviewing
documents provided by the city. The motion was seconded by Allen Davey
and approved unanimously (8-0).

17h. Water Project Construction Loan Program - Requests for Approval on Loans for New
Projects - City ofIdaho Springs - Idaho Springs Reservoir Rehabilitation.
Tape 3, Start/Stop: 1834 - 2023
Action: A motion was made by David Smith to accept the staff recommendation for a loan
for $825,000 to rehabilitate Idaho Springs Reservoir and $130,000 to convert
an existing CWCB emergency loan to a standard construction loan, under the
terms outlined in the staff memo, for a total authorization for $955,000. The
motion was seconded by Janice Sheftel and approved unanimously (8-0).

Minutes November 24-25,1997 CWCB Meeting