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<br />-5- <br /> <br />Tape 3, Track 1 28:04-41:13 <br />Action: Information item; no formal action taken. <br /> <br />20. Water Supply Planning and Finance Section - Changes to Existing Loans- TriArea <br />Sanitation District Regional Stormwater Detention Pond Project <br />Tape 3, Track 1 41:13-48:13 <br />Action: A motion was made by Greg Hoskin with a second Ray Wright by for staff <br />recommendation to approve a loan increase of $502,400 from the Severance <br />Tax Trust Fund Perpetual Base Account. The additional $502,400 increment <br />of funding would be for 30-years at a lending rate of 5.00%. The total <br />funding level for this project would amount to $2,002,400, or 75% of the total <br />project cost. As collateral for the loan, the District pledges assessment <br />revenues backed by a rate covenant and annual fmancial reporting in <br />accordance with CWCB Financial Policy #5. The loan increase shall be <br />contingent upon all standard-contracting provisions of the Colorado Water <br />Conservation Board. The motion was approved 9-0. Carolyn McIntosh was <br />not present. <br /> <br />21. Water Supply Planning and Finance - New Project Loans <br />Tape 3 , Track 1 48: 13 - 1 :00:00 <br />a. Windsor Reservoir and Canal Company - Windsor Reservoir #8 and No.8 Annex <br />Storage Recovery Project <br />Action: A motion was made by Keith Catlin and with a second by David Smith for <br />staff recommendation that a CWCB Small Project loan not to exceed <br />$675,000 to the Windsor Reservoir & Canal Company from the Construction <br />Fund to recover 620 acre-feet of storage in their Windsor Reservoir No.8 and <br />No.8 Annex by excavating and removing up to 1,000,000 cubic yards of <br />sediment. The recommended term of the loan is 30 years and the <br />recommended lending rate is 2.5% per annum. Security for the loan will be a <br />pledge of assessment revenues backed by assessment covenant and the project <br />itself. <br /> <br />Staff further recommends that fmal approval of the loan be conditioned upon <br />all other standard contracting provision of the CWCB, including the 1% loan <br />origination fee in accordance with CWCBG Policy #16. The maximum loan <br />amount may be increased to $68l,750 the borrower elects to fmance the 1 % <br />loan service charge. <br /> <br />The motion was approved 9-0. Carolyn Mcintosh was not present. <br /> <br />b. Lower Arkansas Water Management Association <br />Tape 3 Track 1 1:00:00 - 1:51:59 <br />Action: A motion was made by Harold Miskel with a second by Don Schwindt for <br />staff recommendation for a CWCB loan, not to exceed $2,250,000, to the <br />Lower Arkansas Water Management Association, from the Arkansas River <br />Augmentation Loan Account, to purchase one-half ofthe Keesee water rights <br />for use as a replacement water source to off set depletions from well pumping. <br />The recommended term of the loan is 30 years and the recommended lending <br />Flood Protection . Water Project Planning and Finance. Stream and Lake Protection <br />Water Supply Protection. Conservation Planning <br />