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<br />Institutional Considerations <br /> <br />The BDC already has approval from the CWCB to borrow up to <br />$51,700 from the Small Project Loan Account, Although this <br />maximum loan amount was approved at the March 12,1996 CWCB <br />meeting, the actual loan will be about $22,000, based on the <br />updated cost estimate, The loan from the CWCB is contingent upon <br />the successful negotiation of a contract between the CWCB and the <br />BDC. <br /> <br />The BDC may need to obtain an approving vote of the shareholders <br />to contract for the loan. <br /> <br />Opinion of Feasibility <br /> <br />The selected alternative is technically and financially feasible. <br />There are no significant roadblocks which would keep the BDC from <br />successfully completing this project. <br /> <br />Feasibility of the Repair of the <br />Bravo Ditch Company Diversion <br />June 15, 1996 <br /> <br />10 <br />