Laserfiche WebLink
<br />. <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />The directors were not interested in refmancing their two CW CB loans into one package since <br />the two payments are made six months apart, and this seems to work well for the shareholders. <br /> <br />Recommendation <br /> <br />The staff recommends the Board adopt a resolution to approve the Overland Ditch and <br />Reservoir C01S'any' s request for fmancial relief by granting a deferment of 100 % of their <br />December 199' payment in'the amount of $31,076 based on a fmding that the company has <br />encountered significant and unexpected financial difficulties, and that it has been duly diligent in <br />its efforts to comply with the repayment provisions of its contract with the Board. <br /> <br />As a result of this deferred payment, !be due date of all subsequent loan payments will <br />therefore be extended by one year so that the date of the last scheduled payment on this loan shall <br />be extended by one year. <br /> <br />cc: Peter Kasper, Overland <br />Billy Varner, Overland <br />Doug Robotham, DNR <br /> <br />L:\BOARDMEMIMA Y97I970713A,DOC <br /> <br />3 <br />