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<br />'- <br /> <br />The city of Montrose has outstanding bond issues, the last of <br />which matures in lS93, and the annual payments vary from $120,000 to <br />$130,000. However, the consultant estimates that, with the new rates <br />proposed, additional money will become available to repay loans for the <br /> <br />~roposed project. <br /> <br />Preliminary contacts have been made by the city with various lending <br />agencies to secure funds for the project. <br />The construction budget is proposed as follows: <br /> <br />Local bond issue <br /> <br />$1,460,000 <br /> <br />Colorado Water Conservation <br />Board Construction Fund <br />Total <br /> <br />1,000,000 <br />$2,460,000 <br /> <br />Under the above financing arrangement, this board would levy annual water <br /> <br />use charges of $57,830 for thirty years, for a total repayment of <br />$1,734,900. <br />RJCOMMENDATION A~~ PRIORITY <br /> <br />The city of Montrose has a need to improve its present treatment <br />of raw water and at the same time economize with its present treated <br /> <br />water consumption. It is believed that with the installation of meters <br />to all customers, a 5 mgd additional treatment capacity, and a 24-inch <br /> <br />pipeline for raw water transmission from Fairview reservoir to the treat- <br /> <br /> <br />ment plant, the present system will serve the city efficiently until <br /> <br /> <br />about g03. <br /> <br />It is proposed that the city finance the project through general <br /> <br /> <br />obligation bonds and the Colorado Water Conservation Board Construction <br /> <br />Fund. <br /> <br />It is recommended that an appropriation in the sum of $1,000,000 be <br />sought from the Colorado General Assembly for fiscal year 1977-78 for <br /> <br />the Montrose ~roject as priority number twelve. <br /> <br />FLS :mm <br /> <br />-4- <br /> <br />o.]./~ <br />