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<br />Slit Water Conservancy District <br />March 24-26, 2003 <br /> <br />Agenda Itam 24a. <br /> <br />Recommendation <br />Staff recommends a CWCS Small Project loan froll) the Construction Fund in an amount of <br />$486,000 to the Silt Water Conservancy District and/or the Silt Water Conservancy District Water <br />Activity Enterprise for up to 90% of the costs to replace the transformer and complete related <br />construction work at its pumping plant on the Colorlldo River. The recommended term of the loan is <br />30 years and the lending rate is 2.75% (2.828% Annual Percentage Rate). Security for the loan will <br />be a pledge assessment revenues backed by assessment covenant, in accordance with CWCS <br />Loan Policy #5 (Collateral). <br /> <br />~> <br />e <br /> <br />Staff further recommends that final approval of the loan be conditioned upon all standard contracting <br />provisions of the CWCS, including the 1% loan origination fee charged in accordance with CWCS <br />Policy #16. The maximum loan amount may be increased to $490,860 if the borrower elects to <br />finance the 1% loan service charge. i <br /> <br />cc: Norman Hunt, Vice-President Silt Water Conservanc\! District, PO Box 8, Slit, CO 81652 <br />Linda Bassi, AGO <br /> <br />Attachment <br /> <br />C:IProj-NewlSillWCD303memo L:lboardmemIMar03\24a-SiIt WCD <br /> <br />4' <br /> <br />e <br /> <br />e <br />