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<br />. <br /> <br />e <br /> <br />e <br /> <br />11. Construction Fund Program: Town of ~ Landscaping Water Supply Project <br />Proposal for Construction Fund Assistance* (1:42 - 1:50 p.m.) <br /> <br />Frank Akers, CWCB staff, introduced Jose Quintana, Manager of fW~~~, who made <br />a brief presentation. Questions were asked by Walker, Jackson, Martineau, and Wright. <br />Comments were made by Sheftel, Wright, Walker, Martineau, Jackson, and Harrison. <br />A motion was made by Sheftel and seconded by Salazar to accept tbe staff <br />recommendation on the Town of tgn~U [for a $180,000 loan at 5% interest for forty <br />years for this project]. The motion passed by unanimous (9-0) decision. <br /> <br />11. Construction Fund Program: Trinchera Irrigation Company Mountain Home Reservoir <br />Project Proposal for Construction Fund Assistance* (1:50 - 2:03 p.m.) <br /> <br />A presentation was made by Tracy Kestor from the Trinchera Irrigation Company. <br />Discussion followed by Jackson, Eisel, Harrison, Salazar, and Wright. Keith Eberhardt, <br />CWCB staff, commented on the adequacy of the reservoir deed and company stock as <br />security for the loan. A motion was made by Wright and seconded by Meyring lito move <br />[the] staff recommendation for Trinchera Irrigation Company [for a $1,000,000 loan at <br />1 % interest for forty years for this project}." The motion was amended by Wright and <br />seconded "that the staff recommendation is subject to ... Board satisfaction [that} the <br />[mancial feasibility and security is guaranteed and fully determined." The motion passed <br />by unanimous (9-0) decision. <br /> <br />Break (2:03 - 3:18 p.m.) <br /> <br />Call to Order (3:18 p.m.) <br /> <br />Chairman Jackson called the meeting back to order at 3:18 p.m. and there was a <br />quorum. Present were Sheftel, Wright, Harrison, Meyring, Walker, Jackson, Eisel, <br />Smith, and Salazar. Absent were Norton, Danielson, Olson, Lochhead, and Martineau. <br />Martineau returned at 3:33 p.m. Sheftelleft at 4:56 p.m. <br /> <br />11. Construction Fund Program: North Poudre Irrigation Company Reservoir No.6 Project <br />Proposal for Construction Fund Assistance. (3:18 -3:38 p.m.) <br /> <br />Manuel Pineda, President of the North Poudre Irrigation Company, made a <br />presentation to the Board. Questions were asked by Wright and Eisel. Robert Stevens, <br />manager for NPIC, requested the interest rate be lowered from 5% to 2% as a <br />reflection of the current economy. Frank Akers, CWCB staff, commented that the <br />company was in good standing. A motion was made by Harrison and seconded by <br />Meyring to approve the staff recommendation for a loan at a 2% interest rate. The <br />motion passed by unanimous (8-0) decision. <br /> <br />11 <br />