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<br />~ <br /> <br />I <br />I <br />I <br />I <br />! <br />I <br />I <br /> <br />RESOLUTION OF AUGUST 4, 1976 <br />NO. <br /> <br />- <br />"" <br /> <br />WHEREAS, the Town of Rico, Colorado, finds it <br /> <br /> <br />expedient and necessary to rehabilitate its domestic water <br /> <br /> <br />system, and <br /> <br />WHEREAS, the finances are not available from the <br />residents of the town, and <br />WHEREAS, federal grant monies and state assistance <br />are currently available to accomplish the rehabilitation <br />of Rico's domestic water system, <br />THEREFORE, be it resolved that contingent upon <br />federal grant monies and assistance now being pursued, the Town <br />of Rico proposes to enter into a contractual relationship <br />with the Colorado l~ater Conservancy Board under the following <br />terms and conditions, to-wit: <br />(1) Total estimated project cost: $382.367.89. <br />(2) Total grant monies to be provided upon approval <br />from HUD: $305,894.31 <br />(3) Total financial assistance requested from the <br />state in the form of a forty (40) year promi- <br />sosory note, payable at 3% simple interest per <br />annum as itemized in the attached feasibility <br />study: $76,473.58 <br />The aforestated contractual agreement shall be <br /> <br />I <br /> <br />i <br />= <br /> <br />. <br /> <br />.. <br /> <br />- <br /> <br />ii <br />