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<br />~ <br /> <br />111-2 <br /> <br />~ <br /> <br />During the sixties,wlth the emergence of Aspen as a major ski resort <br /> <br />and the construction of Ruedi Reservoir, tourist and recreation activity <br /> <br />became a major economic factor in the Basalt area, and population and <br /> <br />property values rose. <br /> <br />Today, Basalt is primarily a residential community housing people <br /> <br />employed in Aspen and Glenwood Springs, and surrounding areas. Area <br /> <br />energy development projects (coal and oil- shile) have generally in- <br /> <br />creased overall business activity. <br /> <br />Basalt's present water system, owned, operated, and maintained by <br /> <br />the Town administration, is barely adequate to meet the present needs <br /> <br />! <br /> <br />of the Town during dry periods. The system itself is in very poor <br /> <br />.. <br /> <br />condition and sorely in need of improvement and repair, which must be <br /> <br />accomplished in order to provide water for the domestic and fire <br /> <br />protection needs of the rapid development anticipated in the Immediate <br /> <br />future i.e. Basalt South and other proposed subdivisions. <br /> <br />LAWS OF INCORPORATION <br /> <br />The Town of Basalt was incorporated on August 26, 1901, and the present <br /> <br />state laws regarding Basalt's incorporation are found in Sec. 31-1 <br /> <br />CRS 1973. The Colorado Statutes which detail the specific authority <br /> <br />of Basalt in matters related to a water system Improvement project <br /> <br />are listed below: <br /> <br />Right of Eminent Domain (Condemnation), 31-12-101 (]8) <br />Power to Levy Taxes, 31-20-101 and 31-12-101(5) <br />Power to Enter into Contracts, 31-15-101 <br />Power to Contract Indebtedness, 31-12-101(7) <br /> <br />-- <br /> <br />.. <br />