Laserfiche WebLink
<br />. <br /> <br />, <br /> <br />e <br /> <br />e <br /> <br />e <br /> <br />Lake Meredith ReselVoir Co. <br />March 24-26, 2003 <br /> <br />Agenda Item 24c. <br /> <br />Recommendation <br />Staff recommends a CWCS Small Project Loan in maximum amount of $1 ,000,000 to the Lake <br />Meredith Reservoir Company for relocation of the outlet canal of Lake Meredith. The <br />recommended term of the loan is 30 years and the recommended lending rate is 4.00% <br />(4.083% Annual Percentage Rate.). Security for the loan will be a pledge of assessment <br />revenues backed by assessment covenant and the project itself, in accordance with CWCS <br />Loan Policy #5 (Collateral). The loan will be funded from the Construction Fund. <br /> <br />Staff further recommends that final approval of the loan be conditioned upon all standard <br />contracting provisions of the CWCS, including the 1% loan origination fee charged in <br />accordance with CWCS Policy #16. <br /> <br />cc: Allen Ringle, Manager, Lake Meredith Reservoir Co., P.O. Box 8, Ordway, CO 81063 <br />Linda Bassi, AGO <br /> <br />Attachment <br /> <br />C:IProj-NewILake Meredith 303 memo; <br /> <br />L:lboardmemlMar03\24c - Lake Meredith <br /> <br />5 <br />