PROJ00283

• Contract/PO #: FS0009X
• Contractor Name: Swink, Town of
• Contract Type: Loan
• Water District: 0
• County: Otero
• Loan Projects - Doc Type: Feasibility Study

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(1) the right to eminent domain; (2) the right to levy and collect taxes and
to prescribe by ordinance assessments on land; (3) the authority to contract
for construction of public works and to accept grants and loans for construction
of public works; and (4) the authority (when granted by municipal election)
to sell or dispose of public works-real property.

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1.6 FINANCIAL STATUS

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The Town operates on the accrual method of accounting for all revenues and
expenditures. Fixed assets in some accounts are valued at current replacement
cost which is not in conformance with generally accepted governmental accounting
principles. Being a municipal government, the Town is not subject to federal
or state income taxes. In accordance with state and federal legal requirements,
all acccounts are audited on an annual basis. A copy of the Audited Financial
Statement prepared by the firm of Grimsley, White and Company, Certified Public
Accountants, Rocky Ford, Colorado for the year ending December 31, 1974 and
a copy of the water fund balance sheet, statement of revenue, expense and
retained earnings and Statement of Changes in Financial rosition for the years
ending December 31, 1972 and 1973 are included as Appendix AI, A2, and A3.

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An analysis of the 1970 Colorado Census summary tables for the Swink area
shows a total aggregate income of $1,150,650 for 143 families and 39 unrelated
individuals. The mean income per family was $7,610 and the mean income per
unrelated individual was $1,604. The median annual income was approximately
$5,390 in 1970. The median income in. the community is ..surprisingly low and
is substantially.lower than the state and county figures formedian.annua1
income~ . Census data shows that the median income for Otero County was 71.7%
of; the' state media:nincome and theSwink'community median income was only
.56.4% of the state figure and 78.7% oLthe.county figure.

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1.7 PHYSICAL ASSETS

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The character of the Town is primarily residential in nature with a prepon-
derance of single family homes. Mobile homes make up only 3.8% of the
dwelling units and apartments or multifamily units account for approximately
13.6% of the total dwelling units in the Community. Most dwelling units are
older homes and are in good condition. Approximately 94.7% of the dwelling
units are rated as standard or above-standard.

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Swink has a consolidated school district located in the southern part of
town. The school system consists' of an elementary school and a junior and
senior high school. The school system serves an enrollment of approximately
370 students with 62% being bused in from the rural areas and from that part
of the town lying north of Highway 50.

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Commercial development within the Town is concentrated along a block and
and half of Columbia Avenue and along Highway 50 between Powers Avenue and
Wiley Avenue. Commercial establishments include a beauty shop, a restaurant,
a motel, a grocery store, a hardware store,a barber shop, three gas stations
and a bar. The post office is also located in the business district and the
Town Hall-Library is located on the south end of the business district.

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