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, <br />, Institutional Considerations <br />Summit has applied to the CWCB to borrow up to $600,000. The loan from the CWCB is <br />' contingent upon CWCB and Legislative approval, and the successful negotiation of a contract <br />between the CWCB and Summit. <br />' Each year Summit obtains the authority from the shazeholders, at the annual meeting, to conduct <br />all of the necessary business of the Company for the coming yeaz, the Boazd has obtained loans <br />from the CWCB and other entities in the past based on this general authority. The meeting in <br />' 1997 will be January 25, at which time the Boazd will propose the same authority with a specific <br />clause authorizing the CWCB loan. <br />' Opinion of Feasibilitv <br />The selected facility plans aze technically and financially feasible. There aze no significant <br />, roadblocks which would keep Summit from successfully completing this project. <br />1 <br />' <br />, <br />' <br />' <br />' <br />' <br />' <br />, <br />' <br />� <br />' <br />0 <br />