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<br />. <br /> <br />. <br /> <br />Agenda Item 15.b, <br />March 13, 1997 <br /> <br />. <br /> <br />The CWCB and Water & Power Authority staffs have had two meetings with Town officials and <br />staff and with the Town's consultant in the last month to discuss the potential impact of the plant <br />closing and the Town's options for dealing with the situation in such a way as to assure <br />continued payment of water system debt. We have suggested that the Town consider conducting <br />a preliminary analysis of the various options such as a rate increase, use of reserve funds, use of <br />other funds, changes in repayment schedules, etc, The Town was very receptive to this <br />suggestion. <br /> <br />While the GTC plant closing is a matter for concern, new residential construction in Johnstown <br />is currently resulting in high levels oftap fee revenues, In addition, the Town has a substantial <br />cash reserve in the water fund, We are optimistic that the loss ofGTC water system revenues <br />will not be a serious problem for the Town or the lending agencies, We will keep the Board <br />advised of any further developments. <br /> <br />cc: Tom Martinez, Mayor, Town of Johnstown <br />Diana Seele, Town of Johnstown <br />Mike Brad, Water & Power <br />John Burgeson, HSI Geotrans <br /> <br />. <br /> <br />. <br />