HomeMy WebLinkAboutMINUTES Water Committee 1970-11-30eQ 00
RECORD OF PROCEEDINGS
Special Water Committee Meeting
November 30,1970
Committee:Chairman Dannels;Trustees Steele and Prosser
Attending:Chairman Dannels;Trustees Steele and Prosser
Also Attending:Mayor Brodie,Trustees Brownfield,Tregent and
Petrocine,Superintendent McCracken,Town Admini
strator Hill,Business Office Manager Duncan
RURAL WATER APPLICATIONS:
George W.Stiverson -Approved subject to installing a 4”extension
from the main located approximately 1,000’
away near Valhalla Cottages.
FISCAL AGENT:
The Water Committee recommends to the Board of Trustees that Boettcher
and Company of Denver be named Fiscal Agent for the Town of Estes Park
and that the Town of Estes Park enter into the necessary agreement.
FINANCING WATER PROJECT:
Revised cost estimates as provided by Phillips,Carter,Reister and
Associates on the proposed water project were reported to the Committee
as being $1,089,030.In considering the HUE grant in the amount of
$476,470 and prepaid engineering of $36,100,the funds necessary for
the project costs are $576,460.
The capital reserve funds in the Water Department($l79,000)were dis
cussed.The Committee considered maintaining these funds for the 1972
capital plant needs of $220,000.
For the purposes of studying the most economical bond issue a figure of
$600,000 was projected as the total funding.Bond schedules in this
amount,maturing in 10,15 and 20 years,were discussed.
The Water Rate study by C.H.Hoper and Associates of Denver,Colorado,
was reviewed.This rate report was prepared on the basis of a 4Oh in
crease in water revenues.As stated in the report,a 407 increase is
required to fund a $600,000 bond issue.
The Water Committee,along with other members of the Town Board,dis
cussed at length the feasibility of financing the water improvement
program with a combination of water rate increases and sales tax.This
discussion became very broad and included the entire capital improvement
program of the Town of Estes Park.
The Water Committee recommends to the Board of Trustees of the Town of
Estes Park that the Town proceed with all dispatch to complete the
Comprehensive Water Improvement Program and that the Town Board consider
a Sales Tax along with a water rate increase.
There being no further business,the meeting adjourned.
L1àyd/.Duncan,Office Manager
1970
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