Jan. 4 Council update: debt issuance for Castle Rock Water moves forward

An ordinance to finance several long-term water projects was a topic on Town Council’s Jan. 4 meeting agenda.

Here is a closer look:

Ordinance to finance Castle Rock Water projects moves forward – Town Council approved the first reading of an ordinance authorizing the issuance of $30 million in bonds for Castle Rock Water. The funding will 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. This financing mechanism will not only allow these projects to be completed sooner than originally planned but will 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.

Watch the presentation and Council discussion

Also on the agenda, Council approved the first reading of an amendment to Town Code to change the minimum age for the sale and possession of tobacco products to 21 years old, which is consistent with current Federal and State law.

Coming up

The next regular Town Council meeting is Tuesday, Jan. 18. Visit CRgov.com/CouncilComments between Jan. 13 and 18 to provide written feedback, or to sign up to speak via videoconference during the meeting. The meeting will be available live at CRgov.com/CouncilMeeting. In-person attendance will also be available.

Questions? Email Council, or find your Council representative at CRgov.com/Council; sign up for email updates by clicking “Get Email Updates.” Updates include summaries of top Council items, as well as previews of Council meetings.

View Town Council agendas at CRgov.com/Agendas. Watch Council live at CRgov.com/WatchCouncil, or catch a recording there after the meeting. Town Council meetings are also broadcast live and replayed on Comcast Channel 22.

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