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<br />-" <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />Agenda Item 8b. <br />November 25, 1996 <br /> <br />3 <br /> <br />2. That the Board [mds that the sudden failure of the inlet canal to the Jackson <br />Gulch Reservoir qualifies the Mancos water Conservancy District for a loan from <br />the Emergency Infrastructure Account; (the loan is necessary to avoid uureasonable <br />risk of injury or damage to human health or well being or to property or crops, and <br />the emergency condition is not the result of negligence in the operation or <br />maintenance of the infrastructure), and <br /> <br />3. That an Emergency loan in an amount of $62,500, not to exceed 75% of actual <br />project costs, be approved for the Mancos Water Conservancy District to <br />rehabilitate a portion of the inlet canal to the Jackson Gulch Reservoir, and <br /> <br />4. That the financing terms shall be for a duration of 20 years, and at an interest <br />rate corresponding to the "Agricultural" rate set by the CWCB November 25,1996, <br />and <br /> <br />5. That loan approval shall be contingent upon completion of the feasibility study, <br />and upon all standard contracting provisions of the CWCB, as determined by the <br />CWCB Director, and <br /> <br />6. That security for the loan shall be a collateral interest in the stream of income <br />derived from water sales, and a certificate of deposit account in the amount of one <br />annual payment to be held by the state Treasurer, and <br /> <br />Auachments: Letter 10/14/96 MWCD. Map, Letter 10/28/96 Southwestern WeD <br />C:\wpSl 'PROJ~NEW\8b_Nov <br />