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<br />. <br /> <br />. <br /> <br />. <br /> <br />8a. <br /> <br />Water Project Construction Loan Program - Requests for Approval on Loans for New <br />Projects - Riverside Reservoir and Land Co. - Riverside Res. Emergency Spillway <br />Tape I, Start/Stop: 5360 - 6051 <br />Action: A motion was made by Janice Sheftel to accept the staff recommendation to <br />approve this $450,000 loan, at a 3.75% rate for 20 years, but with three <br />amendments: I) that the title to land be placed in a conservation easement as <br />shortly after acquisition as possible, 2) that the share assessment be raised <br />from $45 to $60, and 3) that the $2,500 grant for the Feasibility Study be <br />funded from the Small Dam Site Reconnaissance Account or the Severance <br />Tax Trust Fund Operational Account. The amended motion was seconded <br />by David Smith and approved unanimously (8-0). <br /> <br />8b. <br /> <br />Water Project Construction Loan Program - Requests for Approval on Loans for New <br />Projects - Windsor Canal & Reservoir Co. - Big Windsor Pump Station <br />Tape I, Start/Stop: 6051 - 6231 <br />Tape 2, Start/Stop: 0001 - 0266 <br />Action: A motion was made by Allen Davey to accept the staff recommendation to <br />approve this $925,000 loan, at a 4% rate for 30 years, but with the provision <br />that the Company is required to raise their assessments prior to receiving the <br />loan, and that if any portion of the water use changes to municipal, a blended <br />interest rate will be calculated based on rates in effect at that time, and will <br />become effective at the time the change occurs. The amended motion was <br />seconded by Ray Werner and approved unanimously (8-0). <br />It was decided that these two issues be added to the standard contracting <br />terms, and that all standard contract terms will be provided to the Board for <br />their information at the next meeting. <br /> <br />9a. Executive Session - Background Briefings <br />Tape 2, Start/Stop: 0272 - 1884 <br />Action: Janice Sheftel indicated that she would not recuse herself from item 9aiv. <br />After a briefing provided by CWCB staff and Attorney General's Office <br />staff, and following public comment, a motion was made by Janice Sheftel <br />that the Board go into Executive Session. The motion was seconded by <br />David Smith and approved unanimously (8-0), and the Board went into <br />Executive Session. <br /> <br />Adjourn 12:10 p.m. <br /> <br />9c. <br /> <br />Report from Executive Session <br />Tape 2, Start/Stop: <br /> <br />1884 - 1945 <br /> <br />Minutes January 28-29, 1998 <br />