C150004 Approval Letter - Laserfiche WebLink

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. . . . . Table 1. Estimated Remaining Project Costs Component Estimated Cost $ Million Raw Water Pipeline $13.7 Raw Water Reservoir . $1.4 Water Treatment Plant $4.9 Treated Water Storage $3.5 Treated Water Pipeline $6.7 Distribution System and Meters $0.8 Total $31.0 On June 17 of this year, the City held an election on the completion of the project. As reported to us by the City Staff, the vote was 69 percent in favor of the project with a voter response of about 60 percent. ProDosed Project The final portion ofthe raw water facilities for the project will consist of 42 miles of 22-inch or 24-inch diameter pipeline from the vicinity of Platteville to Fort Morgan and a terminal raw water reservoir with a capacity of 132 acre-feet. The total cost for these facilities will amount to about $15.1 million. The City currently owns 4,800 shares in the Colorado-Big Thompson Project which are expected to yield about 3,360 acre-feet per year. The City has concluded an agreement with the Northern Colorado Water Conservancy District (NCWCD) for the design and right-of-way acquisition. Design will take place in the next several months with construction in the summer of 1998. An environmental assessment was completed in 1995 and a Finding of No Significant Impact was issued by the Bureau of Reclamation. The City has submitted completed feasibility studies for the Southern Water Supply Project Pipeline (Gronning Engineering, May 1995) and for the raw water reservoir (Montgomery Watson, January 1997) in compliance with the Construction Fund Guidelines. Financinl!: Arranl!:ements The City is arranging both short-term and long-term financing for the project at the present time. Short-term financing involves variable rate revenue bonds which are intended to be retired eventually by the long-term sources discussed below. The City expects to sell $31 million in bonds the first week of December this year. 2