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<br />___J - <br /> <br />during the early spring runoff and after heavy rainfalls, <br />The financial resources of the town of Rico are quite limited, and <br />wholly inadequate to finance the proposed water system. Preliminary <br />contacts were made with Housing and Urban Development (HUD) , Farmers <br />Home Administration (FmHA), and the Four Corners Regional Commission for <br />grants to enable the town to have the project financed. Based on these <br />contact~, the construction budget is proposed as follows: <br /> <br />Federal Grants <br />,State Funds (to be received) <br /> <br />$305,000 <br />80,000 <br />:;ijB),UUU <br /> <br />RECOMMZNDATIONS AND PRIORITY <br /> <br />The town of Rico has a need to reconstruct and improve its pres- <br /> <br /> <br />ently inadequate water system, Apart from certain improvements to the <br /> <br /> <br />original water system added in 1964, the system remains essentially as <br /> <br /> <br />it ~1aS in about 1900. <br /> <br />Based upon the proposed construction budget, water use charges <br /> <br /> <br />would be levied by the Colorado Water Conservation Board at the rate of <br /> <br /> <br />$3,460.80 per year for 40 years, for a total repayment of $137,432. <br /> <br /> <br />It is recommended that an appropriation in the sum of $80,000 be <br /> <br /> <br />sought from the Colorado General Assembly for fiscal year 1977-78 for <br /> <br /> <br />the town of Rico as priority number seven. <br /> <br />FLS:mm <br /> <br />O.J<t9 <br /> <br />-3- <br />