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<br />13a.- Water Project Construction Loan Program - New Loans - Ryan Gulch Reservoir <br />Dam Rehabilitation <br />Tape 3, Start/Stop: 0300 - 0440 <br />Action: Bill Brown recused himself from this item. A motion was made by Eric <br />Kuhn to accept the staff recommendation for a loan of $317,500 for a term <br />of 30 years at a rate of 4.25 %, and that prior to execution of a loan contract, <br />that the Company's shareholders approve the loan, the pledge of revenues <br />and the conveyance of a security interest in the Ryan Gulch Reservoir by the <br />Company to the CWCB. The motion was seconded by David Smith and <br />approved unanimously (9-0). <br /> <br />13b. Water Project Construction Loan Program - New Loans - Leroux Creek Water <br />Users Association - Carl Smith Dam Rehabilitation <br />Tape 3, Start/Stop: 0440 - 0774 <br />Action: A motion was made by David Smith to accept the staff recommendation for <br />a loan of $1,250,000 for a term of30 years at a rate of3.75%, not to exceed <br />90% of the project costs, and that prior to the execution of the loan contract <br />the Company's shareholders approve the loan, the pledge of revenues and <br />the conveyance of a security interest in the Carl Smith Dam site and water <br />rights to the CWCB and the Association will obtain liability insurance for all <br />of its reservoirs. The motion was seconded by Ray Werner and approved <br />unanimously (10-0). <br /> <br />13c. Water Project Construction Loan Program - New Loans - City of Ouray - <br />Skyrocket Creek DeOection Structure <br />Tape 3, Start/Stop: 0000 - 0000 <br />Action: lbis item was deleted from the Agenda. <br /> <br />13d. Water Project Construction Loan Program - New Loans - Consolidated Mutual <br />Water Company - Fortune Reservoir <br />Tape 3, Start/Stop: 0783 - 1542 <br />Action: A motion was made by Bill Brown to approve the staff recommendation for <br />a loan for $10,000,000 repayable over a period of 10 years at a rate of <br />4.75%. Prior to execution of a loan contract, the applicant will prepare a <br />revised feasibility study acceptable to CWCB staff, the board of directors of <br />the company will approve the loan, the pledge of revenues and the <br />conveyance of a security interest in collateral that is equivalent in value to <br />the principle amount of the loan, and any collateral pledge shall be free of <br />liens and encumbrances, and the CWCB Construction Fund will have parity <br />status with any existing debt of the Company with respect to a pledge of <br />revenues. The motion was seconded by Janice Sheftel and approved (8-2). <br /> <br />13e. Water Project Construction Loan Program - New Loans - Pine River Canal Co. - <br /> <br />Minutes January 27-28,1999 <br />Page 7 <br />