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• <br /> anticipate an annual increase in rates to offset increased operating <br /> II <br /> and system maintenance costs. The rate structure will be phased in <br /> over the next 4-5 years. I <br /> Professional services for legal and engineering were significantly <br /> higher in 2010 as a result of our case in closing Hay Gulch. I <br /> As noted above the District has been proactive in its approach to <br /> securing the necessary raw water supplies required to serve our II existing customer base. All new growth is required to pay for itself <br /> without negatively impacting the District' s existing customers. The <br /> District has established tap prices to allow for this kind of growth. <br /> The District has established guidelines for the Management to pursue <br /> II <br /> additional water resources as needed to meet-the demands of new <br /> customers. <br /> The District continues to service its debt as rescribed by the I <br /> p Y <br /> payment schedule. The principal and interest payments for 2010 were <br /> as follows: <br /> II <br /> - - - - Tntarasi- Pri nri.pal - - - <br /> Colorado Water Conservation Board note $ 82,643 $ 89,065 <br /> I <br /> Series 1998 Refunding and Improvement bond 76,059 1 5fl 000 <br /> Total $ isa vn9 $ 9.10.ngs <br /> I <br /> I <br /> ...k..------'''''.- <br /> 2 )4j11 1 <br /> Na ti( Kokes, General Manager <br /> I• <br /> I <br /> I <br /> I <br /> • <br /> - 6 - . <br /> • <br />