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<br />. <br /> <br />111-6 <br /> <br />, <br /> <br />ability to build facilities and provide water service outside the <br />Town boundaries in 1973 CRS 31-12-101(35). <br /> <br />. <br /> <br />Examination of the attached audit report and the 1977 budget indicates <br /> <br /> <br />that, at present, there is essentially no excess money in the Water <br /> <br /> <br />Fund to finance any sizeable capital improvement. Therefore, any <br /> <br />improvement program would have to be financed by grants, loans, or <br /> <br />sale of bonds. Future development plans in Basalt, however, indicate <br /> <br />considerable increase in tap fee revenues in the next few years. <br /> <br />The additional raps will also mean an increase in service charge revenues. <br /> <br />This additional income, along with a tax levy of 2 mills, should <br /> <br />insure Basalt's ability to repay any incurred indebtedness. <br /> <br />, <br /> <br />The present Basalt mill levy is 13.9 mills and the 1977 assessed <br />valuation was $1,621,980. <br /> <br />,.-~ ' <br />