Possible debt issuance for Castle Rock Water tops Town Council’s Jan. 4 meeting agenda

An ordinance to finance several long-term water projects will be a topic on Town Council’s Jan. 4 meeting agenda. View the full agenda online.

Here is a closer look:

Ordinance approving financing for Castle Rock Water projects – Town Council will be asked to approve an ordinance authorizing the issuance of $30 million in bonds for Castle Rock Water. The funding would be used for projects including a pipeline through Parker Water and Sanitation District to transport additional WISE water to the community; a new 822-acre-foot reservoir in Sedalia; and a new pipeline and pump station to move water from the Plum Creek Basin to Rueter-Hess Reservoir for storage. Additionally, plans are in the works to expand the Plum Creek Water Purification Facility from 6 million gallons of water per day to 12 million gallons of water per day. Approval of this financing mechanism would not only allow these projects to be completed sooner than originally planned but would also help smooth future planned rate increases.

During the 2022 Budget process and the 2021 Rates and Fees Study, Castle Rock Water updated the long-term renewable water plan to respond to current market conditions and projected growth in the community. The revised plan anticipates long-term investments of $523 million. This is a significant increase over the 2020 study, which anticipated $477 million in long-term investments.

Also on the agenda, Council will consider amending Town Code to change the minimum age for the sale and possession of tobacco products to 21 years old. This would be consistent with current Federal and State law.

Stay tuned

Town Council generally meets twice a month to make decisions that impact the community. Whether it’s a road project, construction contract or budget amendment, Town Council is working to represent you.

Wondering what happens next? Keep an eye on your inbox. A follow-up email will be sent detailing the outcomes of this meeting.

This will be a hybrid meeting, with both virtual and in-person attendance options available. Those planning to participate virtually are requested to visit CRgov.com/CouncilComments by 1 p.m. Tuesday, Jan. 4, to provide written feedback, or to sign up to speak during the meeting by phone or web. Public comment may also be provided live in person and online during the meeting, which will be accessible virtually at CRgov.com/CouncilMeeting.

Questions? Email Council.

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