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<br />. <br /> <br />Collateral <br /> <br />. <br /> <br />1. The SIC can offer a collateral interest in assessments <br />collected from its shareholders to repay the debt, and the <br />project itself, if approved of the shareholders. <br /> <br />2. The SIC can offer as collateral one payment in a certificate <br />of deposit account, to be held by the State Treasurer, if <br />approved by vote of the Board of Directors. <br /> <br />Institutional Considerations <br /> <br />The SIC needs authorization to borrow $318,583 from the CWCB <br />Construction Fund. The loan, if approved, from the CWCB will be <br />contingent upon the successful negotiation of a contract between <br />the CWCB and SIC. Agreements with contractors will be finalized <br />upon authorization of the CWCB loan. <br /> <br />. <br /> <br />Opinion of Feasibility <br /> <br />The selected alternative is technically and financially feasible. <br />There are no known roadblocks which would keep the SIC from <br />successfully completing this project. <br /> <br />. <br /> <br />. <br /> <br />Feasibility Study <br />Sterling Irrigation Company Diversion Structure <br />August 1998 <br /> <br />11 <br /> <br />. <br />