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<br />The City's swimming pool complex is a very important economic facility for the City's revenue . <br />base. Failure of the existing deflection structure would pose a very serious health, safety, and <br />welfare risk to the community. <br /> <br />The City's ability to repay the CWCB loan is based on revenues from the Parks Fund (Pool <br />Department) and will not increase taxes or users fees for citizens and visitors. <br /> <br />RECOMMENDA nON <br />The staff recommends a Construction Fund loan in the amount of $25,000 to the City of Ouray be <br />approved for the purpose of constructing much needed deflection structure rehabilitation project. <br />Staff recommends a 20-year term for the loan and the Municipal Standard Income lending rate for <br />1999 as may be approved by the Board at the November 1998 Board Meeting. <br /> <br />Staff further recommends that the loan be conditioned on the commitment from the U.S. Army <br />Corps of Engineers for a 65% in-kind construction match for the proposed project. As security for <br />the loan, the City will pledge City Revenues and collateral in the form of real property owned by <br />the City. <br /> <br />. <br /> <br />4 <br /> <br />. <br />