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<br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />-7- <br /> <br />bonds in 14 months. A $12,000 loan to the city enabled residents to work in <br />exchange for city services; the city completed its water and sewer systems, <br />added street curbs and sidewalks, and built a city park. <br /> <br />Mine closures began in the mid 1940s and by 1952, Pittsburg and Midway's <br />Edna Mine was the only mine in operation. Along with Colorado Yampa Coal <br />Company's strip mine, Edna Mine still operates today. <br /> <br />At this time, both mines are cutting back operations and laying off <br />employees. <br /> <br />11.2 Laws of Organization <br /> <br />The Town of Oak Creek is a municipal corporation, organized in 1907. <br />Articles and certificates of incorporation are given in Appendix A. <br /> <br />11.3 Population <br /> <br />The current population is estimated at 930 to 960. The population in <br />1970 was 494; in 1980, 929; in 1983, 902 (estimated); and in 1984, 837. <br /> <br />No projection fi9ures are available. Oak Creek seems to be experiencing <br />a population decline, due to cutbacks at the two local coal mines, which <br />employ a large number of residents. <br /> <br />However, Stagecoach Dam, to be located five miles from Oak Creek, is <br />scheduled for construction next summer. This project should employ a number <br />of locals during the construction phase, in addition to creating a number of <br />permanent jobs in town and at the reservoir. <br /> <br />11.4 Powers and Authority <br /> <br />The Town of Oak Creek, as a municipal corporation, has all the rights <br />applying thereto including the right of eminent domain for ad valorum levy <br />under current general laws of the State of Colorado. The Town also has the <br />authority to enter into contractual agreements with any political subdivision <br />of the State, with the State, or the federal government. The Town can acquire <br />or divest itself of property and do all other things allowed of a municipa- <br />lity under the general laws of the State of Colorado. <br /> <br />11.5 Financial Status <br /> <br />A 1985 financial statement for the Town of Oak Creek, showing the Town's <br />current financial status, prepared by Albaugh and Lee, P.E., certified public <br />accountants, is given in Appendix B. <br /> <br />11.6 Physical Assets <br /> <br />Streets - Colorado State Highway 131 is Oak Creek's Main Street. The <br />highway grade was modified and resurfaced in 1985. There are 5 miles of roads <br />in town, with approximately 1 mile being paved or chipped and sealed; the rest <br />are unpaved. Sharp Avenue is the access to County Road 25 and National Forest <br />land. Alleys exist between most streets and are also maintained by the town. <br />