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<br />-8- <br /> <br />New Castle, acting by and through its Utility Fund (enterprise fund), to <br />construct a new diversion structure and pump station on the Colorado <br />River, and a raw water pipeline to the Town's existing water treatment <br />facility. The reconnended term of the loan is 30 years and the <br />reconnended lending rate is 4.5% per annum. Security for the loan <br />will be a pledge of enterprise fund revenues backed by a rate covenant <br />and annual fmancial reporting. <br /> <br />Staff further reconnends that fmal approval of the loan be <br />conditioned upon all other standard contracting provisions of the <br />CWCB, including the 1 % loan origination fee in accordance with <br />CWCB Policy #16. The maximum loan amount may be increased to <br />$707,000 if the borrower elects to fmance the 1 % loan service charge. <br />Staff further reconnends the following approval condition: <br />In the event that State grant funds for the project are obtained <br />through the Department of Local Mfairs, said funds shall be <br />used to reduce the principal amount of the CWCB loan. <br />The motion was approved 8-0. Kent Holsinger was not present in the <br />room. Carolyn McIntosh was not present. <br /> <br />g. Victor Quint - Well Augmentation Project <br />Tape 3, Track 1 2:28:16-2:37:00 <br />Action: A motion was made by Don Schwindt with a second by David Smith for Staff <br />reconnends of a CWCB Small Project Loan from the Construction Fund in <br />the amount of $85,500 to Victor J and Margie J. Quint for up to 90% of the <br />cost to construct the Quint Augmentation site. The reconnended loan terms <br />are 30 years at 2.5% (2.577% Annual Percentage Rate). Security for the loan <br />will be collateral in accordance with CWCB loan policy #5 of a 1 st lien on (5 <br />acres of land, including improvements, located in the SW Y. of Section 31, <br />T5N, R54W with value at least equal to the loan amount, as established by a <br />Colorado Certified General Appraiser.) <br /> <br />Staff further reconnends that fmal approval of the loan be conditioned upon <br />all standard-contracting provisions ofthe CWCB, including the 1 % loan <br />origination fee charged in accordance with CWCB Policy #16. The loan <br />amount may be increased to $86,355 if the borrower elects to fmance the 1 % <br />loan service charge. <br /> <br />The motion was approved 8-0. Kent Holsinger was not present in the room. <br />Carolyn McIntosh was not present. <br /> <br />h. Mildred L. Rothe - Well Augmentation Project <br />Tape 3, Track 1 2:37:00 - 2:52:30 <br />Action: A motion was made by Don Schwindt with a second by Keith Catlin for Staff <br />reconnendation of a CWCB Small Project Loan from the Construction Fund <br />in the amount of $353,482 to Mildred L. Rothe for up to 90% of the cost to <br />construct groundwater recharge and augmentation facilities known as the <br />Rothe Augmentation and Groundwater Facilities Plan. The reconnended <br /> <br />Flood Protection . Water Project Planning and Finance. Stream and Lake Protection <br />Water Supply Protection. Conservation Planning <br />