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. . .. . Town of Coal Creek March 24-2625. 2001 Page 4 Agenda Item 241. (Updated March 28. 2003) Water Project Construction Loan Program-Project Data Borrower: Town of Coal Creek County: Fremont Project Name: Union Ditch Share Acquisition Project Type: Water Rights Purchase Drainage Basin: Arkansas River Water Source: Arkansas River Total Project Cost: $75,000 Funding Sources: ewes and the Town Type of Borrower: Municipal Median Household Income: Low CWCS Loan: $67,500 Interest Rate: 3.75% Term: 30 years CWCS Grant: $0 Annual Volume of Water: 34 acre-feet The Town of Coal Creek is located 2 miles south of the City of Florence, in Fremont County. The Town provides water service to its residents through a master metering arrangement with the City of Florence Regional Water System. Coal Creek provides raw water to Florence and Florence treats the waler and returns it to Coal Creek for distribution. Coal Creek's existing water rights, dated 1884, have been out of priority in times of drought. specifically during 1977, 1978, and 2002. The Town anticipates that its existing water rights will also be called out in 2003. Coal Creek plans to buy water shares in the Union Ditch (priority date 1863) to supplement its existing supply. The Town of Coal Creek is a Colorado municipality with the power to acquire water rights, construct and operate facilities, levy taxes, and issue debt subject to the provisions of TABOR. The Town has 165 taps and an average monthly water bill of $25.00. Martin and Wood, Water Consultants Inc. has completed an Engineering Report, and the Town has completed the feasibility study. Funding will come from a $67,500 Small Project loan from the eWeB and remainder from the Town. Location Map