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<br />" <br />, <br /> <br />Agenda Item 9.a. September 27-28,1999 <br />DeWeese-Dye Ditch and Reservoir Co, <br /> <br />. Page 4 <br /> <br />. <br />-~ <br /> <br />. <br /> <br />STAFF RECOMMENDATIONS. Staff recommends that: <br /> <br />The Board approve a loan increase to the DeWeese-Dye Ditch and Reservoir Company's <br />original 1998 loan, with no change in the project scope, in the amount of $256,261 for a <br />total loan amount of$990,261 under the following conditions: <br /> <br />I. Tenus of the additional loan amount would be at the original adopted 1998 tenus of <br />4% for 30 years, with a loan of up to 90% of the total project cosL <br /> <br />2, The loan increase shall be contingent upon the Company increasing the share <br />assessments at its next annual stockholder's meeting (January 2000), if the anticipated <br />Division of Wildlife funding ($500,000) has not been secured by that date, The <br />assessments shall be set at $15,50 per share, or at such amount that will allow the <br />Company to meet the annual payment on a CWCB loan amount of $990,26 I. <br /> <br />3, The loan increase shall be contingent upon the Company applying all anticipated <br />Division of Wildlife funding ($500,000) to the project cosL <br /> <br />4, The loan increase shall be contingent upon all standard contracting provisions of the <br />CWCB including any increased collateral requirements. <br /> <br /> <br />. <br /> <br />Project Photo; DeWeese-Dye Dam 9/7/99 <br /> <br />. <br /> <br />Attachments: <br /> <br />Letter of request dated 9/11/99, DeWeese-Dye Ditch and reservoir Company. <br />Letter dated 9/3/99, Colorado Division of Wildlife. <br /> <br />C:\wp51 \proj-new\DeWeeseMore$999 <br />