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<br />13a. Water Project Construction Loan Program - Modifications to Previous Loan <br />Authorizations - Overland Ditch and Reservoir Company <br />Tape 2, Start/Stop: 0618 - 1020 <br />Action: A motion was made by Janice Shefte1 that the Board accept the staff <br />recommendation to defer 100% of the December 1996 payment, and that the <br />staff work with the company to arrange a long range budget, and that the <br />letter granting deferral indicate the Board's concern that legal expenses may <br />not constitute an unforseen circumstance. The motion was seconded by <br />David Smith. The motion was then amended by Elizabeth Rieke that the <br />Board discuss its policy regarding deferrals at the September 1997 meeting. <br />The amended motion was approved unanimously (10-0). <br /> <br />13b. Water Project Construction Loan Program - Modifications to Previous Loan <br />Authorizations - Mancos Water Conservancy District <br />Tape 2, Start/Stop: 1020 - 1110 <br />Action:A motion was made by Patricia Wells that the Board accept the staff <br />recommendation to consent to a parity lien for CWCB's lien on the Mancos <br />Water Conservancy District's revenues which are pledged to repay the loan <br />from CWCB, and including any conditions listed in the staff memo. The <br />motion was seconded by Alan Hamel and approved unanimously (10-0). <br /> <br />13c. Water Project Construction Loan Program - Modifications to Previous Loan <br />Authorizations - Clinton Ditch and Reservoir <br />Tape 2, Start/Stop: 1110 - 1191 <br />Action: A motion was made by Elizabeth Rieke that the Board accept the staff <br />recommendation that the Director execute the Consent to Pledge of Shares, <br />the Consent and Estoppel Agreement, and any other documents as deemed <br />necessary on the condition that Scotia Bank revises the Consent and Estoppel <br />Agreement to the satisfaction of the staff and the Office of the Attorney <br />General. The motion was seconded by Ray Werner and approved <br />unanimously (10-0). <br /> <br />13d. Water Project Construction Loan Program - Modifications to Previous Loan <br />Authorizations - Ute Water Conservancy District <br />Tape 2, Start/Stop: 0000 - 0000 <br />Action: This item was canceled. <br /> <br />13e. Water Project Construction Loan Program - Modifications to Previous Loan <br />Authorizations - City of Greeley <br />Tape 2, Start/Stop: 1203 - 2164 <br />Action: A motion was made by Janice Shefte1 that the Board conditionally recommend a loan <br />of up to $375,000, that when the Board ranks applications in November this <br />loan could remain as a priority project if the Board had enough money, and <br />that the interest rate is not determined until the Board establishes its policy <br /> <br />Minutes July 21-22,1997 CWCB Meeting <br />