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<br />I <br />, I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />il <br />I <br />I <br />I <br />I <br />II <br />I <br />I <br />I <br />I <br /> <br />CHAPTER II <br />TOIJN 0 F HUDSON <br /> <br />A. HISTORY OF TOHN <br /> <br />The area in Hudson was platted in 1887 by the Hudson Land Company <br />which built and promoted development of the Town site. Hudson <br />was incorporated in 1914. <br /> <br />B. LA\.JS UNDER \JHICH ORGANIZED <br /> <br />The Town .of Hudson was organized as a corporation under Colorado <br />Statutes. It currently has a Mayor-City Council form of government. <br /> <br />C. POHERS AND AUTHORITIES OF THE TOHN OF HUDSON <br /> <br />The Town of Hudson has the powers assigned to incorporated cities <br />in the State of Colorado as outlined by Colorado Statutes. This <br />includes the right of eminent domain, power of taxation, authority <br />to enter into contractural agreements, and authority to vest title <br />to the project or a portion thereof in the Colorado Water Conser- <br />vation Board. <br /> <br />D. FINANCIAL STATUS <br /> <br />The assessed valuation for 1977 is $752,240. Historically the <br />Town has met its financial commitment for the water system relative <br />to installation costs, operation and maintenance. The financial <br />status of the Town is shown in the attached 1976 Budget and <br />Accountant's Report and Financial Statement ending on December 31, <br />1976 and 1975. The budget is shown in Appendix A and the audit <br />reports and financial statements are shown in Appendix B. <br /> <br />II - 1 <br />