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<br /> <br />Page | 14 <br /> <br /> <br />Georgetown Lake Dam Outlet Modification Project – Georgetown Colorado <br />by way of participating in a pro-rata amount of each loan payment when due or contribute its <br />full portion of the project costs up front, has yet to be determine. <br />It is anticipated that Georgetown will receive up to 50% of the project cost from Black Hawk, <br />regardless if that happens or not, cash flow to service the loan will be derived from the Town of <br />Georgetown’s water rates through the Water Resources Reserve fund either in part or in full <br />depending on the level of participation buy the Town of Black Hawk in this Project. <br /> <br />XIV. O PINION OF F EASIBILITY <br />The Town and its program manager (F&D International LLC, Todd Ficken PE), believe this is a <br />very feasible and practical project. In terms of the actual improvements, there appears, as noted <br />in the Outlet Study, to be several alternative solutions to achieve the mandated 500 c.f.s release <br />rate, in which the suggested alternative, based upon known information, is realistic and <br />practical. In terms of the financial obligations, i.e., the ability to service the CWCB funding, <br />again the Town believes that there is capacity within the existing service area customers to be <br />able to service the funds. <br />Thus, it is concluded, based upon the information available at the time this report was prepared <br />that the project is feasible. <br /> <br />XV. C OLLATERAL <br />Collateral will include a pledge of associated revenues and the project assets. <br /> <br />