BOARD02034

• Board Meeting Date: 1/29/1997
• Description: Summary Minutes and Record of Decisions - January 29-30, 2001
• Board Meetings - Doc Type: Minutes

Association, to purchase water rights and to pay the costs of setting up and
adjudicating an augmentation plan; the financing terms for the Horse Creek
Water Users Association loan shall be at an overall annual percentage rate of
3%, for a duration of 40 years, provided that the payments on the loan for the
first 5 years shall be based on the terms of 2%, and thereafter upon an interest
rate that will assure that the total return to the CWCB has the same net
present value as a standard 3% 40-year loan, Security for the loan to the
Horse Creek Water Users Association shall be a collateral interest in the
stream of income derived from membership dues and assessments, the water
shares or rights purchased, and one annual payment in the form of CD held
by the State Treasurer. Financing terms, borrower, and security for the
remaining $90,000 in the Horse Creek Basin Account will be addressed at a
later meeting of the CWCB, and all loan approvals shall be contingent upon
completion of feasibility studies and upon all standard contracting provisions
of the CWCB, and that all loan approvals from the Horse Creek Basin
Account shall be contingent upon settlement of the lawsuit regarding the
State Engineers' well pumping rules and involving the junior well water users
in the Horse Creek Basin, The motion was seconded by Allen Davey, and
approved unanimously (9-0),

8h, Water Project Construction Loan Program - Preisser - Purchase of Augmentation
Water.
Tape 3, Start/Stop: 0297 - 1254
Action: This item was included in item 8g,

9a, Water Project Construction Loan Program - New Feasibility Study Loan Applications
- Greeley and Loveland Irrigation Co,
Tape 3, Start/Stop: 1254 - 1430
Action: A motion was made by Janice Sheftel to accept the staff recommendation for
a loan of $23,400 and a Small Dam Site grant of $10,000 for the purpose of
conducting a system evaluation and feasibility study of the Company's water
storage and distribution system. The loan would have a term of 10 years and
a lending rate of 3,25%, The motion was seconded by David Smith and
approved unanimously (8-0),

lOa, Water Project Construction Loan Program - Severance Tax Operation Account
Grants - Town of Palisade,
Tape 3, Start/Stop: 1413 - 1480
Action: A motion was made by David Smith to accept the staff recommendation for a
grant of $9,500 from the Severance Tax Operational Account to this entity
for a watershed yield study and systems operation model. The motion was
seconded by Ray Werner and approved unanimously (8-0),

Minutes January 29-30, 1997 CWCB Meeting