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<br />"' <br />I <br /> <br />~ <br /> <br />is $125,000. <br />RECOMMENDATION <br /> <br />The residents of the Olive street Water District are currently <br /> <br />faced with either a contaminated well water supply or extremely <br /> <br />high prices for imported cistern water. It is not possible to <br /> <br />sewer the area at ~his time, because Pueblo will not accept sewage <br /> <br />from anyone outside its corporate boundary, and the district cannot <br /> <br />annex to Pueblo because it is not contiguous to that city. The <br />proposed system will solve the water problems of the district. <br /> <br />As there are no other sources of funding available, the <br /> <br />entire project cost of $125,000 will be needed from the state. <br /> <br />Under the proposed financing arrangement, the district would have <br /> <br />to repay the state $4,570 per year for 40 years. The total repay- <br /> <br />ment to the state would amount to $182,800. Annual payments would <br />be generated by an existing mill levy in the district. The average <br />monthly amount of this mill levy is about $17 per water user. <br /> <br />It is recommended that the project as described be funded by <br /> <br />the Board to the extent of $125,000 and that the project be recom- <br /> <br />mended and submitted to the Colorado General Assembly for author i- <br /> <br />zation and funding during the 1980 session. <br /> <br />. <br /> <br />JWMcD:tam <br /> <br />-3- <br />