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-" liability for the City. The existing structure is no longer structurally sound and is not adequate for the deflection of flood and debris flow runoff for the protection of the City of Ouray. Previous . detailed analyses and past natural disasters on Skyrocket Creek have demonstrated the need for the project. Alternatives to addressing the problem have been investigated, however the proposed project has been recommended as the best alternative by the Corps of Engineers, and has been recommended by the City. The City's swimming pool complex is a very important economic facility. Failure of the existing deflection structure would pose a very serious health, safety, and welfare risk to the community and to the swimming pool complex. The City's ability to repay the CWCB loan is based on revenues from the Parks Enterprise Fund and will not increase taxes or users fees for citizens and visitors. RECOMMENDATION The staff recommends a Construction Fund loan in the amount of $25,000 to the Parks Enterprise Fund, as managed by the City of Ouray, be approved for the purpose of constructing much needed deflection structure rehabilitation project. Staff recommends a 20-year term for the loan and the Municipal Standard Income lending rate for 1999 as may be approved by the Board at the November 1998 Board Meeting. Staff further recommends that the loan be conditioned on the commitment from the U.S. Army Corps of Engineers for a 65% in-kind construction match and approval by from the Colorado Department of Local Affairs for a grant for the proposed project. As security for the loan, the City's Parks Enterprise Fund will pledge Fund Revenues and collateral in the form of a 1996 GMC 3/4 ton pickup truck (VIN # IGTHK34R2T) and a 1997 John Deere model 955 tractor (Serial # L V0955E 192607) owned by the Parks Enterprise Fund. . 4 .