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<br />~ <br />.. ",- <br />,. ~~.... ",' <br /> <br />.- <br /> <br />. <br /> <br />AITACHMENT <br />Agenda Item 20b <br />March 9, 1994 <br /> <br />~ <br /> <br />, <br /> <br />Policy for Dealing With FIP Loans <br />December 16, 1993 <br /> <br />4 <br /> <br />c. Perform a one time analysis of all FIP loans to tell us the true status of <br />interest and principal paid into the Construction Fund account, had these <br />loans been written as FIR loans. In this way the CWCB Board would have an <br />accurate picture of interest income, along with proper principal balances in <br />the Construction Fund. (This would require amortization schedules for all 57 <br />loans, and review of all contract files and payment records.) <br /> <br />d. Do nothing, except when a loan is prepaid. At that time, credit the <br />additional .principal. received to the interest account instead. (This would <br />require only that we run an amortization schedule when a loan is actually <br />prepaid, as well as ensuring the payoff is credited to the proper accounts.) <br /> <br />e. Do nothing. <br /> <br />Considering the alternatives, a combination of c. and d. appears to be the most <br />reasonable approach. <br /> <br />I request this item be placed on the agenda for the January 19-20 ewCB Board meeting. <br /> <br />C\wpSl\NAL1.mem <br />