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<br />- 6- <br /> <br />depletions. The recommendedtenn of the loan is 20 years and the <br />recommended lending rate is 2.5% per annum. Security for the loan will be <br />SLCC real estate with a total value of $414,000. The real estate value will be <br />supported by an opinion of value from a certified appraiser, and all necessary <br />pennits and easements must be obtained. Staff further recommends that final <br />approval of the loan be conditioned upon all other standard contracting <br />provisions of the CWCB. The motion was approved 9-0. Harold Miskel was not <br />present. <br /> <br />. <br /> <br />20c. Water Supply Planning and Finance Section - Surface Creek Ditch and Reservoir <br />Company - Hotel Twin Reservoir Rehabilitation <br />Tape 3, Track 1, 2:27:00 - 2:37:00 <br />Action: A motion was made by Keith Catlin and seconded by Greg Hoskin for staff <br />recommendation of a CWCB:Small Project Loan, from the Severance Tax <br />Trust Fund - Perpetual Base Account, not to exceed $265,000 to the Surface <br />Creek Ditch and Reservoir Company to rebuild the Hotel Twin dam. The <br />recommended tenn of the loan is 30 years and the recommended lending rate <br />is 2.8%. Security for the loan will be a pledge of assessment revenues backed <br />by assessment covenant and the project itself. Staff further recommends that <br />final approval of the loan be conditioned upon all other standard contracting <br />provisions of the CWCB, and that the loan be used to pay off the construction <br />loan with the Surface Creek Bank, and other eligible construction costs. <br />Approved 9-0. Harold Miskel was not present. <br /> <br />20d. Water Supply Planning and Finance Section - Town of Kremmling . <br />Tape 3, Track1, 2:37:00 - 2:46:00 <br />Action: A motion was made by Greg Hoskin with a second by Bob Burr for staff <br />recommendation of a Small Project Loan in a maximum amount of$l million to <br />the Town ofKremmling, acting by and through its water activity enterprise. The <br />loan is for up to 75% of the costs of a project to construct a supplemental water <br />supply system for the Town. The recommended loan tenus are 30 years at <br />4.25%. As security for the loan, the Borrower will pledge revenues in <br />accordance with CWCB Loan Policy #5. Staff further recommends that final <br />approval of the loan be conditioned upon all other standard contracting <br />'provisions of the CWCB. Approved 9-0. Harold Miskel was not present. <br /> <br />20e. Water Supply Planning and Finance Section - Groundwater Management Subdistrict <br />oftbe Central Colorado Water Conservancy District <br />Tape 3, Track 1, 2:46:00- 3:0l:00 <br />Action; A motion by Eric Wilkinson with a second by Carolyn McIntosh for staff <br />recommendation of a loan in the maximum amount of $15,000,000 to the <br />Groundwater Management Subdistrict of the Central Colorado Water <br />Conservancy District. The loan is for up to 90% of the costs of a project to <br />purchase senior water rights and to construct water storage and recharge <br />facilities for augmentation purposes. The recommended loan tenns are 30 <br />years at 2.75%. As security for the loan, the Borrower will pledge security in . <br />compliance with CWCB LOflIl Policy #5. The Borrower must provide an <br />appraisal or written opinion of value of water rights purchased as a condition <br />Flood Protection. Water Project Planning and Finance. Stream and Lake Protection <br />Water Supply Protection-. Conservation Planning <br />