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<br />-j <br /> <br />') <br /> <br />. <br /> <br />COLORADO WATER CONSERVATION BOARD <br />823 State Centennial Building <br />1313 Sherman Street <br />Denver, Colorado 80203 <br /> <br />December, 1979 <br /> <br />LUiON PROJECT <br /> <br />INTRODUCTION <br /> <br />The Limon Frojectwas originally authorized by the Colorado <br /> <br /> <br />Legislature in S.B. 69 in 1978, with State participation set at <br /> <br /> <br />$831,000. No money was made available for constructing the project, <br /> <br />however, until July 1, 1979. The ToWIi. of Limon has subsequently <br /> <br />asked its consulting engineers to proceed and prepare contract <br /> <br />documents in order to start construction in December, 1979. <br /> <br />PROBLEM <br /> <br />Since the original application in August of 1976, the Town of <br /> <br />Limon has had to commit $600,000 in publicly financed General Ob1iga- <br /> <br />tion Water Bonds to settle the litigation arising from the purchase <br /> <br />of the original Packard Ranch water rights. Due to the reduced volume <br /> <br />of water legally available from the original Packard Ranch, it was <br /> <br />necessary to acquire additional downstream water rights at a cost of <br /> <br />$110,000. In addition, inflationary increases in construction costs <br /> <br />" <br />i <br /> <br />have added approximately 22 percent to the original project. thus <br /> <br /> <br />the project has increased to $2,100,000, which represents an additional <br /> <br />$500,000 in costs. The Town will have an annual repayment obligation <br /> <br />· on the water system in excess of $100,000. <br />