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<br />1.3.3 Conditions <br /> <br />The following conditions apply to all projects constructed wholly or in part by loans made <br />available from the CWCB Construction Fund: <br /> <br />a. The sponsor must have the legal authority to levy assessments on project <br />beneficiaries sufficient to pay all costs associated with the project including loan <br />repayment, costs of reserve funds, and operation and maintenance. <br /> <br />b. The necessary project lands and water rights are or can be made available to the <br />project. <br /> <br />c. Each request for a Construction Fund loan must be accompanied by an appropriate <br />feasibility study which has been reviewed and approved by the CWCB staff and <br />which addresses, at a minimum, the: <br /> <br />. need for the project; <br />. technical, financial, and institutional feasibility of the project; and <br />. economic, social, and environmental impacts of the project. <br /> <br />d. All proposed projects should incorporate operational, management, conservation, <br />and system maintenance measures which represent the most efficient use of water <br />supplies. The concept of payment for water on a measured basis should be <br />included where applicable. <br /> <br />e. Adequate operation, maintenance, and replacement costs must be taken into <br />account for all CWCB financed projects. <br /> <br />f. Construction Fund loans will be made only for projects which comply with these <br />Guidelines as determined by CWCB staff and are recommended for funding by <br />the Board, and for which funds have been appropriated by the State Legislature. <br /> <br />g. Construction Fund loans will be made only for projects which meet CWCB <br />financial parameters, and to borrowers who are worthy of credit and have the <br />ability to repay the loan. <br /> <br />5 <br />