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<br />8g. <br /> <br />Water Project Construction Loan Program - Horse Creek Water Users Association <br />Tape 3, Start/Stop: . 0.- 1254 <br />Action: David Harrison recused himself from this item. A motion was made by <br />Alan Hamel to accept the staff recommendation which would consist of: <br />A construction fund account (Horse Creek Basin Account) in an amount <br />of $915,000 to be recommended to allow the CWCB to make loans, not <br /> <br />to exceed actual totai costs, to junior well water.users and groups of well <br />users in the Horse Creek Basin, to purchase water rights and to pay the <br />costs of setting up and adjudicating augmentation plans; that a construction <br />fund loan, fuD.ded from the Horse Creek Basin account, in an amount of <br />$825,000, not to exceed the actual total costs, for the Horse Creek Water <br />Users Association, to purchase water rights and to pay the costs of setting <br />up and adjudicating an augmentation pIan; the financing terms for the <br />Horse Creek Water Users Association loan shall be at an overall annual <br />percentage rate of 3%, for a duration of 40 years, provided that the <br />payments on the loan for the first 5 years shall be based on the terms of <br />2%, and thereafter upon an interest rate that will assure that the total return <br />to the CWCB has the same net present value as a standard 3% 40-year <br />loan. Security for the loan to the Horse Creek Water Users Association <br />shall be a collateral interest in the stream 'of income derived from <br />membership dues and assessments, the water shares or rights purchased, <br />and one annual payment in the form of CD held by the State Treasurer. <br />Financing terms, borrower, and security for the remaining $90,000 in the <br />Horse Creek Basin Account will be addressed at a later meeting of the <br />CWCB, and all loan approvals shall be contingent upon completion of <br />feasibility studies and upon all standard contracting I provisions of the <br />CWCB, and that all loan approvals from the Horse Creek Basin Account <br />shall be contingent upon settlement of the lawsuit regarding the State <br />Engineers' well pwnping rules and involving the junior well water users <br />in the Horse Creek Basin. The motion was seconded by AlIen Davey, and <br />approved unanimously (9-0). <br /> <br />. - <br />8h. Water Project Construction Loan Program - Preisser - Purchase of Augmentation <br />Water. <br />Tape 3, Start/Stop:; '0297 - 1254 <br />Action: ' This item was, included in item 8g. <br /> <br />9a. Water Project Construction - Loan Program -, New Feasibility. Study Loan <br />Applications - Greeley and Loveland Irrigation Co. <br />Tape 3, Start/Stop: 1254 - 1430 <br />Action: A motion was made by Janice Sheftel to accept the staff recommendation <br />for a loan of $23,400 and a Small Dam Site grant of $10,000 for the <br />purpose of conducting a system evaluation and feasibility study of the <br />Company's water storage and distribution system. ,The loan would have <br />a term of 10 years and a lending rate of 3.25%. The motion was seconded <br />by David Smith and approved unanimously (8-0). <br /> <br />Minutes January 29-30, 1997 CWCB Meeting <br /> <br />. <br /> <br />e <br />. " <br />'" <br /> <br />~ <br /> <br />(~ <br /> <br />'- <br /> <br />e <br />i.le <br />\~ <br />