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<br />. <br /> <br />. <br /> <br />.<'--:::. <br />: .';':..' <br /> <br />Agenda Item CFd <br />January 19, 1994 <br />Page two <br /> <br />b. Increase the loan amount (0 $373,000 so that the existing FmHA loan can <br />be paid off. <br /> <br />Letters from both companies are attached, and company officials will be addressing <br />the CWCB at the January 19, 1994 Board meeting. , <br /> <br />STAFF RECOMMENDATION <br /> <br />A staff recommendation will be provided a( (he board meeting, after (he impact of <br />these requests has been evaluated. <br /> <br />ACTION TAKEN BY TIlE CWCB BOARD <br /> <br />1. Approved a revision in the loan for the Beaver Reservoir Company as follows: <br />New loan amount to be $373,000; New loan term to be 40 years; New interest rate <br />to be 3%. The loan is for the rehabilitation of (he Beaver Reservoir Dam ($343,000), <br />and to refinance the existing FmHA loan ($30,000). <br /> <br />2. Approved the refinancing of the remaining unpaid balance of the existing CWCB <br />loan to the Lone Cabin Ditch and Reservoir Co. as follows: New interest rate to be <br />3%; Loan term to remain 40 years. <br /> <br />3. Approved a one year deferral of payments for the existing loan to the Lone Cabin <br />Ditch and Reservoir Co. (The Company will not be required to make the payment <br />which is now due, and the first payment on the refinanced loan will be due one year <br />after the revised loan contract is approved.) <br /> <br />Attachments <br />C:\wp5! \CFdJ19.cw< <br /> <br />_ _ __ _~. -1 <br />1 <br />