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<br />. <br /> <br />. <br /> <br />'.\ <br /> <br />,oj <br /> <br />i <br /> <br />Agenda Item 29h <br />October 21, 1994 <br />Page 4 <br /> <br />p<:'-" <br />r ',1 <br /> <br />Segment 1 of the project, how~ver, involving a neW diversion structure, pump station, and transmission <br />line at an estimated cost of $672,000, is clearly a priority to assure a continuing supply of water to the <br />Town. <br /> <br />I <br />STAFF RECOMMENDATION <br /> <br />, <br />A qualified approval of Segme~t 1 would allow the Town to undertake the most urgent aspects of the <br />project in 1995 (upon a finding of feasibility) while feasibility work for the entire project and discussions <br />between the Town and the CWCB staff continue. A recpmmendation for the entire project, or some <br />alternative to the project, could be presented at the November 1995 Board meeting. <br />, <br /> <br />The staff recommends that: <br /> <br />L A construction fund loan in the alnount, of $504,000, not to exceed 75% of actual <br />project costs, be 'approved for the 'fown of Morrison to construct the improvements <br />associated with Segment 1 of the pnlposed project, namely; a new diversion structure <br />on Bear Creek, a new sand trap, a pump station, and 1,740 feet oftransmission iline. <br /> <br />I <br />2. Loan approval shall be contingent upon completion of the feasibility study, and a <br />finding that the project is feasible. 0 <br />~ ~I <br />3. The financing sh~1I be at an annual percentage rate of~ for a repayment period <br />of 30 years, , <br />I <br /> <br />5 <br /> <br />Loan approval Sl1all be contingent upon staff evaluation of the Town's financial <br />condition and ability to pay, and upon all standard contracting provisions of the <br />CWCB, and I <br />, <br />I <br />I <br />The loan shall be contingent upon the Town of Morrison being UNABLE to ohlain <br />financing throug~ the C~orado Water Resources and Power Development Authority. <br /> <br />! ~,tJN"-V \ )J""'- - \'V\;W\ h,,-, f!JJJ\tj'ryI\. "" - <br />vv\r~ \ -1'\'6- ~ /- <br /> <br />4. <br /> <br />cc: <br /> <br />Mary Poe, Town of Morrison <br />Bruce Buttner, WRC Engineering <br />, <br />I <br />i n __ ~\vVv <br />: r:lv~ ~~ <br />I~ <br />! ~~O <br />I . <br />i <br /> <br />c:\wp51\john\2911.nov <br />