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<br />I <br />I <br /> <br />2. The water rights purchased. These rights will be owned by <br />the HCWUA and can be offered by vote of the membership and the <br />Board of Directors. <br /> <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />3. One annual payment in the form of a CD to be held by the <br />State Treasurer. This could be approved by a vote of the Board <br />of Directors. <br /> <br />Institutional Considerations <br /> <br />The HCWUA has applied to the CWCB to borrow $825,000 from the <br />Construction Fund Loan Account. The loan from the CWCB is <br />contingent upon Legislative approval, and the successful <br />negotiation of a contract between the CWCB and the HCWUA. <br /> <br />The HCWUA will need to obtain an approving vote of its members to <br />contract for the loan, and to increase the assessments. <br /> <br />The HCWUA augmentation plan must be approved by the Water Court. <br /> <br />Opinion of Feasibility <br /> <br />The selected alternative is technically and financially feasible, <br />There are many significant issues, but none which should keep the <br />HCWUA from successfully completing this project. <br /> <br />I <br /> <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />I <br /> <br />7 <br /> <br />I <br />