PROJ00166

• Contract/PO #: C153311
• Contractor Name: Nunn, Town of
• Contract Type: Loan
• Water District: 0
• County: Weld
• Bill Number: SB 78-69
• Loan Projects - Doc Type: Feasibility Study

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,CHAPTER II
TOWN OF NUNN CHARTER -
FINANCIAL STATUS AND PHYSICAL ASSETS

The Town of Nunn is located in the northwest corner of Weld County,
Colorado. The Town is bisected by the main line rails of tbe Union
Pacific Railroad. The Town was originally established as Maynard in 1904
and incorporated as Nunn in 1908 and has grown substantially during certain
periods in the TOlin's history. However, there have been periods, particularly
between 1930 and the early 1960's, when the town grew quite slowly. The
town historically in the past has served as an agricultural service center.
The Town of Nunn was incorporated in 1908 under existing general state
laws. The Town has the right of eminent domain and has taxing and assessing
authority. The Town currently has a mill levy of 12.55 mills, on an
assessed valuation of $450,540 on personal property within the town. The
income from property taxes is used for the town's operation. However, the tax
money is used for general operations and not for the water system. The'
water system related expenses are currently financed exclusively from income
derived from the potable water sales.
The Town has the authority to enter into contractual arrangements with
the Colorado Water Conservation Board (C.W.C.B.) and also has the authority
to vest title to the water system improvement project or a portion thereof
to the C.W.c.B., if required.
The current financial status of the town is indicated in the two tables

included with this report. Table 11-1 presents the current balance sheet,
and Table V-2 (Chapter V) contains a statement of income and expenditures
for 1974 through 1976 for the operation of the water system. The existing
facilities owned by the Town are summarized as follows:

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