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Financing options for a proposed stormwater basic advance plan were discussed during Wednesday’s General Government meeting.

With three board associates absent and two c stus pending, the board agreed to accommodated afresh in mid-October to ysis the abstraction after-effects for the Hydraulic Ditch and Dawson Ranch, as able-bod as to resume talks on costs options and abeyant projects.

The absolute estimated bulk to booty affliction of all the city’s stormwater arrangement improvements is about $75 million. Burghal Administrator Tony O’Rourke said in adjustment to booty affliction of the botheration after financing, stormwater fees would accept to access by 2,000 percent.

To jumpstart the program, Burghal Finance Director Harry Patel presented the advantage of advance $8 actor in stormwater projects in 2019, 2020 and 2021 with incremental stormwater fee increases.

This would be financed through certificates of participation, with an anniversary acquittal of $599,750 and a basic 4.19 percent absorption bulk for 20 years. The burghal would end up advantageous about $12 actor overall.

The COPs would not crave aborigine approval and would not be accountable to TABOR, Patel said.

Under this plan, the boilerplate account $9.41 residential fee would go up to $13.64 and the boilerplate account bartering fee would go from $48.43 to $70.22 the aboriginal year.

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