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<br />water requirement growth of one percent per year to arrive at the annual water <br />requirements. <br /> <br />Based upon these two sets of criteria, this project is expected to meet the demands of the <br />water system's supply requirements for approximately 40 years. <br /> <br />Conclusions <br /> <br />1. The Town of Akron is an incorporated municipality in the State of Colorado with <br />the ability to enter into a contract with the Colorado Water Conservation Board <br />for the purpose of obtaining a construction fund loan. <br /> <br />2. Permitting for one well is in place, and the second permit is expected within 60 <br />days. Statement of beneficial use on the Hoyer Well must be filed by July 25, <br />2003, so construction needs to begin as soon as possible in order to meet terms of <br />the well permit. Rights-of-way easements needed for this project are in place. <br /> <br />3. The project will allow the Town of Akron to continue to deliver water to all of its <br />existing customers, and will allow for modest residential and commercial growth. <br /> <br />4. The total cost of the project is $388,799. This will be financed by a loan of90 <br />percent ofthe project from CWCB, and 10 percent from the Town of Akron's <br />Water Fund. <br /> <br />5. The project is technically and financially feasible. <br /> <br />9 <br />