Laserfiche WebLink
<br />\. <br /> <br /> <br />and Reservoir Company to rehabilitate the Mariano Dam, for the <br />recommended term of30 years and the recommended lending rate of tit <br />3.5%. The loan will be secured by a pledge of assessment revenue backed <br />by assessment covenant and the project itself, and conditional upon all <br />other standard contracting provisions of the CWCB. The motion was <br />seconded by David Smith and approved (8-0). <br /> <br />16b. Water Supply Planning and Finance - Emergency Infrastructure Loan Account- <br />John Peroulis and Sons - Martin-Cull Dam Rehabilitation <br />Tape 4, Start/Stop: 1105 - 1498 <br /> <br />Action: <br /> <br />This project was proposed as a Small Project Loan. A motion was made <br />by Carolyn McIntosh to approveithe staff recommendation for a Small <br />Project Loan not to exceed $100,000 to the John Peroulis and Sons <br />Partnership to rehabilitate the Martin-Cull Dam, for the recommended <br />term of30 years and the recommended lending rate of3.5%. The loan will <br />be secured by a pledge of facilities, water rights and/or other real property <br />of value equal to the loan aJ:nOUJ'lt, and conditional upon all other standard <br />contracting prQvisions of the CWCB, including a favorable credit report <br />from the current lender, a l<ilnder's title policy for the CWCB loan, and an <br />appraisal of the property pledged. Additional conditions include a <br />requirement that the value llnd ownership of the collateral be confirmed <br />prior to contracting, that the CWCB get a first lien on the water rights and <br />the land of the reservoir (which!will probably require a subordination by <br />the existing lender) and that all partners and their spouses be signatories to <br />the contract. The motion Was seconded by David Smith attd approved (8- <br />~. ' <br /> <br />e <br /> <br />17a. Water Supply Planning and Finance - Changes in Existing Loans - Pinon Mesa <br />Ranches Community Association - DeIlnqu,ency Review. <br />Tape 4, Start/Stop: 0000 - 0000 <br />Action: This item was deleted froUJ. the agenda, <br /> <br />17b. Water Supply Planning and Finance - Ch~nges in Existing Loans - Lower <br />Arkansas Water Management Association f- Loan Payment Deferral <br />Tape 4, Start/Stop: 1498 - 1628 <br />Action: A motion was made by Eric Wilkinson to accept the staff recommendation <br />to give the recipient a one year 100% deferment of their May 1, 2002 loan <br />payment in the amount of $122,000, upon the condition that the deferred <br />interest payment be added to the current loan balance, and the resulting <br />new balance be reamortized oyer the remairling life ofthe loan. The <br />motion was seconded by Carolyn McIntosh and approved (8-0). <br /> <br />Water Supply Planning and Finance - CWCB Finance Sub-Committee Report <br />Tape 5, Start/Stop: 0460 - 0694 <br />Action: Information item; no action taken. <br /> <br />18. <br /> <br />. <br /> <br />Minutes September, 24-25, 2001 <br />Page 6:' <br />