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<br />Four Seasons Trout Farm <br />March 21-22. 2002 <br /> <br />Agenda Item 11 <br />(Updated March 22, 2002) <br /> <br />Action Taken bv the CWCB March 21, 2002 <br /> <br />Discussion: It was pointed out by staff that HB 01-1024 refers to loans in accordance with CRS <br />37-60-122, which require approval by the General Assembly. Small Project Loans (which can <br />be approved by the CWCB) come under 37-60-122.7. However, once HB 02-1152 passes, the <br />CWCB will have authority to approve loans up to $1 million under CRS 37-60-122. <br /> <br />Action: The CWCB then approved the staff recommendation with the following revisions and <br />additions: <br /> <br />1. Approval of this loan shall be continqent upon passaqe of the Construction Fund Bill (HB <br />02-1152). allowinq CWCB authorization of proiects UP to $1million without leqislative approval. <br /> <br />2. The security requirement is revised to read: "Security for the loan will be a first interest in <br />real estate and water riqhts of value at least equal to the loan amount." <br /> <br />cc: John Niblack, P.O. Box 21, Cedaredge, CO 81413 <br />Ed Frazar and Norm Erthal via email <br />Linda Bassi, AGO <br /> <br />Attachment <br /> <br />C:IW P51 IProj-NewlFou rSeasons Trout302memo; <br /> <br />L:\boardmemlMar02111 - Mar 02 Four Seasons Trout <br /> <br />5 <br />