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<br />. Agenda Item 7a. (Updated 9/11/96) <br />September 9, 1996 <br /> <br />3 <br /> <br />2. That a Small Project construction fund loan in an amount of $100,000, not to <br />exceed 75% of actual project costs, be approved for The Decker Lateral Company <br />(or for The Lower Decker Lateral COI!1Danv) to rehabilitate the lower end of the <br />Decker Lateral, and <br /> <br />3. That the financing terms shall be at an annual percentage rate equal to the <br />"Agricultural" rate of 4.25% (as set by the CWCB November 6, 1995), for a term <br />of 30 years, and <br /> <br />4. That loan approval shall be contingent upon completion of the feasibility study, <br />and upon all standard contracting provisions of the CWCB, as determhi.ed by the <br />CWCB Director, and <br /> <br />5. That security for the loan shall be ~ collateral interest in the stream of income <br />derived from shareholder assessments, and one annual payment with the State <br />Treasurer. <br /> <br />. <br /> <br />Action Taken bv the CWCB. Seotember 9. 1996 <br /> <br />The CWCB approved the staff recommendation, but specified that the loan be to the <br />Decker Lateral Company. If it is necessary to form a new company to complete this <br />project, the CWCB wanted to be able to review and authorize that loan under a separate <br />action. <br /> <br />Attachments <br />C;\wp51\PROJ-NEW\7a.sep and L:\BOARDMEM\SEPT96\7a.sep <br /> <br />. <br /> <br />cc: <br /> <br />Robert A. Wardlaw. President Decker Lateral Co. <br />30896 WCR 57. Gill CO 80624 <br />