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Board approves four loans and commitments for water projects across Utah
Summary
The Board of Water Resources unanimously approved four funding motions at the regular meeting: authorizing RE504 (Davis & Weber Canal) and committing funds for RE449 (Veo Culinary), RE498 (Veo Irrigation) and RM095 (Cottonwood Gooseberry meter installation). Terms, percentages and repayment schedules were recorded for each measure.
At its regular meeting the Utah Board of Water Resources approved four project funding actions for infrastructure and meter programs.
RE504 — Davis & Weber Canal Company: The board approved a motion to authorize 85% of the project cost up to $1,156,000; the motion specified purchase at 2.46% interest over 15 years with annual payments of approximately $93,100. The motion was made by Tim Hawks and seconded by Blaine Ipson; a roll‑call vote recorded unanimous approval.
RE449 — Veo Culinary Water Association: The board committed 85% of project cost up to $1,076,000 and set terms at 1% interest over 30 years with annual payments of about $41,700. The motion (mover: Spencer Jones; second: Councilmember Buxton) passed unanimously.
RE498 — Veo Irrigation Company: The board committed 46% of project cost up to $990,000 at 0% interest over 25 years with annual payments of approximately $39,600. The motion (mover: Spencer Jones; second: Blaine Ipson) carried unanimously.
RM095 — Cottonwood Gooseberry Irrigation Company: The board committed 25.5% of the project cost up to $840,000 and approved purchase at 1% interest over 15 years with annual payments near $60,800. The motion (mover: Blaine Ipson; second: Spencer Jones) passed by unanimous roll call.
Staff presentations and project descriptions for each item are recorded in the meeting record. Each motion passed on a roll-call vote in which board members recorded "I."
