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<br />. ' <br />. <br /> <br />/. . <br />- " . <br /> <br />, <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />- <br /> <br />. <br /> <br />Agenda Item 4d, <br />March 12, 1996 <br /> <br />3 <br /> <br />4. That the loan can be used to reimance project costs, as detennined by the <br />CWCB Director, and <br /> <br />5, That loan approval shall be contingent upon completion of the feasibility <br />study, and upon all standard contracting provisions of the CWCB, as <br />determined by the CWCB Director, and <br /> <br />6, That security for the loan shall be a collateral interest in the stream of <br />income derived from shareholder assessments, and from Pioneer Water and <br />Irrigation, Inc. <br /> <br />Action Taken bv the CWCB. March 12.1996 <br /> <br />The CWCB approved the Staff RecolDlI1endation, revising recolDlI1endation 6. to the <br />following: <br /> <br />6, <br /> <br />That security for the loan shall be a collateral interest in the stream of <br />income derived from shareholder assessments, and from annual running fees <br />charged to Pioneer Water and Irrigation, Inc. <br /> <br />AaachmentS <br />C:\wpSl \PROJ-NEW\4d.mar <br />