HomeMy WebLinkAboutWater Board - Minutes - 11/30/1964MINUTES OF THE MEETING OF THE FORT COLLINS WATER BOARD HELD NOVEMBER 30,
1964 AT 7:30 O'CLOCK P. M. IN THE OFFICES OF THE WATER SUPPLY AND STORAGE
CO. AT 528 SOUTH COLLEGE AVENUE, FORT COLLINS.
Present: President Ward Fischer, Vice President Frank Ghent, Mayor Harvey
Johnson, Secretary John Bartel, and Board member Fred Feit. Also present
were City Manager Robert Boos and Assistant City Attorney, Arthur March Jr.
Mr. J. T. Banner, H. T. Person and Harry John were present and
the following letter with reference to rate changes was read at length:
Mr. Ward H. Fischer November 30, 1964
President, Water Board
Fort Collins, Colorado
Dear Mr. Fischer:
The following summary is furnished in regard to adjusting the
Rate Schedule "B", proposed in our November 16, 1964, "Supplement to
Water Report", to provide annual income over and above all expenditures
• which is 25%-more than the annual bond debt service cost.
1. The bond debt service cost for existing bond issues and the
proposed new bond issue of $3,180,000 averages about $272,600
per year from 1965 through 1984 (See Table VIII-1, page 8-2 Report).
2. The Rate Schedule B proposed in our November 16, 1964, "Sup-
plement to Water Report", would provide sufficient revenue so
that the total income would be about $62,000 per year over and
above all expenditures for bond debt service and operation and
Maintenance costs over the next twenty years (See Table VIII-12,
page 8-20).
3. If an annual income of 25% of the bond debt service cost
(.25 x 272,600 = $68,150) over and above all expenditures for
bond debt service and operation and maintenance costs, the Rate
Schedule B proposed in our letter of November 16, 1964 would have
to be slightly increased. The additional income that would be
required would be $6,150 per year.
4. If the In -City flat rate for each family unit of $5.50 per
quarter in the proposed Schedule B is increased to $6.75 per
quarter, the increase in income would be about $6,500 per year.
Very truly yours,
J. T. BANNER & ASSOCIATES, INC.
• J. T. Banner _s/
T. T. Banner
HTB:bh
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11
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After discussion the board approved the increase. After consid-
erable discussion it was agreed that Banner and Associates prepare a re-
vised proposal for Engineering Services on the water expansion program
and appear before the Water Board and members of the City Council at the
next meeting. The following work schedule was presented in connection
with the proposal:
PRELIMINARY SCHEDULE
CITY OF FORT COLLINS COLORADO-WATER WaOVEMENTS PROGRAM
Complete Start Complete
Plans Construction Construction
TRANSMISSION MAINS 2-15-65 April 1, 1965
to plus pipe
Est. Cost $1,100,000 3-1-65 delivery time
probable start
May 15.
1st payment
not before
June 1, 1965
WATER TREATMENT PIANT
$1,2571000
April 15,
June 1, 1965
1965
1st payment
about
July 1, 1965
REPAIR & RAISE EXISTING RESERVOIR
June 1,
Aug. 1, 1965
1965
$ 290,000
1st payment
not before
Sept. 1, 1955
Oct. 1, 1965
June, 1966
Dec. 1, 1965
A letter on timing, selling and the prospectus on the water bonds
to be issued from Owen Moore (Boettcher and Company) was read. After dis-
cussion it was agreed by the Board members that this also be presented at
the next meeting.
M
• Next meeting December 7, 1964 at 7t30 O'Clock P. M. in Council
Chambers.
ecS retai
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