Palmer Lake: Town Council approves water rate increase

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From The Tri-Lakes Tribune (Lisa Collacott):

The basic rate will increase from $33.53 to $40.07. The increase is needed to fund the new water plant. There will be an $11.51 increase per tap per month. An additional $6.54 will be added to maintain a three-month reserve. The state has required the Town of Palmer Lake to create an emergency fund with the $6.54 that is collected. At the end of 2010 the $6.54 will be taken off the bill. The $11.51 will stay until the loan is paid off, which will be in 20 years. “We needed the money for the new plant,” said water commissioner, Max Stafford. “The old one was 30-years-old and it was hard to get parts for it.”

Palmer Lake has taken a $1.8 million loan from the state’s revolving fund for improvements. The loan is a low-interest subsidized loan. “There was no raise in the budget or employee benefits. It’s all about the loan,” Stafford said.

More infrastructure coverage here.

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