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<br />-' <br />17e. Water Project Construction Loan Program - Requests for Approval on Loans for <br />New Projects - Greeley and Loveland Irrig. Co. - System Rehabilitation. <br /> <br />Tape 2, <br />Tape 3, <br />Action: <br /> <br />start/Stop: 5232 - 6160 <br />Start/Stop: 0001 - 0039 <br />A motion was made by Eric Kuhn that the Board accept the staff <br />recommendation on this new loan as provided in the Board Memo, with <br />the following amendments: (I) that the lending rate be modified to 4.21 <br />percent (the blended rate), (2) in the event that the percent of municipal <br />water use in the Greeley and Loveland Irrigation Company should increase <br />significantly during the term of the loan, the lending rate would be <br />modified to reflect the revised percentage of municipal use, and (3) this <br />loan plus previous loans and grants will not exceed 80 percent of the total <br />project cost. The modified motion was seconded by Janice Sheftel and <br />approved unanimously (8-0). <br /> <br />17f. Water Project Construction Loan Program - Requests for Approval on Loans for <br />New Projects - Highland Ditch Company - Foothills Reservoir Dam Rehabilitation. <br />Tape 4, Start/Stop: 2266 - 2775 <br />Action: A motion was made by David Smith to accept the amended staff <br />recommendation for a loan for $1,040,000 at the agricultural rate, for a <br />duration of 30 years, as well as a $3,000 feasibility study grant, and that <br />this might possibly come out of the severance tax fund. The motion was <br />seconded by Allen Davey and approved unanimously (8-0). <br /> <br />17g. Water Project Construction Loan Program - Requests for Approval on Loans for <br />New Projects - City of Fort Morgan - Raw Water Pipeline. <br />Tape 3, Start/Stop: 1113 - 1613 <br />Action: A motion was made by David Smith that the Board accept the staff <br />recommendation on this $8,000,000 new loan as provided in the Board <br />Memo, and that $4,000,000 would be loaned from the Construction Fund, <br />and $4,000,000 be loaned from severance tax funds, and that the city <br />would pledge water fund revenues at parity with any other lender. The <br />motion was seconded by Ray Werner and approved unanimously (8-0). <br /> <br />Addendum <br />to <br />17g. Water Project Construction Loan Program - Requests for Approval on Loans for <br />New Projects - City of Fort Morgan - Raw Water Pipeline. <br />Tape 3, Start/Stop: 1613 - 1834 <br />Action: A motion was made by Janice Sheftel that the Board authorize the Director <br />to execute the consent to parity that's been provided by the city and its <br />water enterprise, conditioned on staff and the Attorney General's Office <br />reviewing documents provided by the city. The motion was seconded by <br />Allen Davey and approved unanimously (8-0). <br /> <br />Minutes November 24-25, 1997 CWCB Meeting <br />