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<br />. <br /> <br />Collateral <br /> <br />1. The RRLC 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 />, <br /> <br />2. The RRLC can offer as collateral, one payment in a <br />certificate of deposit account, to be held by the State <br />Treasurer, if approved by vote of the Board of Directors. <br /> <br />Institutional Considerations <br /> <br />The RRLC needs authorization to borrow $405,000 from the eWeB <br />Construction Fund. The loan, if approved, from the eweB will be <br />contingent upon the successful negotiation of a contract between <br />the eweB and the RRLC. The RRLC must also receive approval from <br />the Riverside Irrigation District, since they are majority <br />stockholder in the Company and they are providing part of the <br />down payment for the project. Agreements with contractors will be <br />finalized upon authorization of the CWCB loan. <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 RRLC from <br />successfully completing this project. <br /> <br />fealibillty Study <br />Rlverside Reservolr and <br />Land C~ny D,ver.ion Structure <br />February 2000 <br /> <br />11 <br />