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3 percent. The repayment period would be 40 years. <br /> Mr. Jackson then moved, seconded by Mr. Fetcher, that the staff's <br /> recommendation be accepted. There being no further discussion, the <br /> motion was passed on a unanimous voice vote. <br /> The next project presented to the Board was the Lone Tree Reservoir <br /> Project. Mr. Ioannides of the staff went over the project with the <br /> Board, noting that the total estimated cost of the project is about <br /> $100,000 . The staff recommended that the Board finance 50 percent, or <br /> $50,000 , of this project at a service charge of 3 percent. Mr. W. R. <br /> Keirnes , Secretary of the Consolidated Home Supply Ditch and Reservoir <br /> Company, then made a brief presentation in support of the proposed <br /> project. At the conclusion of his comments ,_ Mr. Smith moved, seconded <br /> by Mr. Jackson, that the staff's recommendation be accepted. There <br /> being no further discussion, the motion was passed by a unanimous voice <br /> vote. <br /> The meeting was then recessed at 12:15 p.m. for lunch and recon- <br /> vened at 1:45 p.m. The Vice-Chairman, having assumed the chair just <br /> prior to the discussion on the Beaver Park Project, continued in the <br /> chair when the Board reconvened in the absence of Mr. Stapleton. <br /> Mr. McDonald then directed the Board's attention to the proposed <br /> Kelton Heights Water District Project. He explained that this project <br /> would provide domestic water service to a small enclave located in <br /> Lakewood in an area that is contiguous to the City and County of Denver. <br /> Mr. McDonald noted that the Board's Subcommittee on Construction Fund <br /> Projects was of the opinion that Board funding for the proposed project <br /> should be made available only upon the condition that the Water District <br /> become annexed to the City of Lakewood and be served by the Lakewood <br /> municipal water supply system. The Vice-Chairman then called upon <br /> Ms. Martha Taylor, attorney for the Kelton Heights Water District, and <br /> Mr. Tony Herr, of the Bancroft Fire Protection District, to speak to <br /> the project. Ms. Taylor, in her presentation, raised a number of <br /> questions about the appropriateness of requiring the District to annex <br /> itself to the City of Lakewood in order to obtain water supply services. <br /> Following her presentation, considerable discussion ensued between <br /> Ms . Taylor and members of the Board concerning the difficulties which <br /> the Water District might encounter in being annexed either to the City <br /> of Lakewood or to the Bancroft-Clover Water and Sanitation District. <br /> In the course of that discussion, several alternatives were suggested <br /> for the manner in which the staff might proceed to work with the Water <br /> District concerning the matter of possible annexation. Mr. Vandemoer <br /> then moved, seconded by Mr. Gormley, that Mr. McDonald meet with Kelton <br /> -6- <br />