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(TAPE INAUDIBLE) The towns of Erie, Wiggins, and Hudson would <br />probably be non-credit worthy entities. They probably couldn't get <br />a rating in the bond market. Their participation would probably <br />have to come from either Farmer's Home Administration grants, the <br />Water Conservation Board, or the Colorado Water Resources and Power <br />Development Authority. The Power Development Authority is also a <br />source of funding for some of the larger entities. The next source <br />would be the entities themselves. Longmont, for example, might <br />choose to issue their own revenue bond financing to pay for their <br />participation. If there is enough interest, the Conservancy <br />District will put together a revenue bond provided the pooling of <br />entities can be done, so that they are all about equal credit <br />rating. Issue one revenue bond issue that would cover a large <br />portion of the expected construction expenditures. Louisville <br />would be a potential participant in that bond issue, if they chose <br />to be. (TAPE INAUDIBLE) If an entity isn't able to decide that <br />they're interested in this enough to commit a fairly low level of <br />funds for engineering studies, it's very unlikely that they'll be <br />able to commit to the millions that they will be necessary for the <br />construction. (TAPE INAUDIBLE) <br /> <br />EXECUTIVE SESSION <br /> <br />Howard moved that Council go into Executive Session to determine <br />Council's position relative to issues that may be subject to <br />negotiation, to receive reports on negotiation progress and status, <br />to develop strategy, and to instruct it negotiator on water rights <br />matters. Seconded by Sisk. All in favor. <br /> <br />COUNCIL RETURNED FROM EXECUTIVE SESSION <br /> <br />Davidson called the regular meeting back into session. <br /> <br />(TAPE INAUDIBLE) <br /> <br />Sisk moved (TAPE INAUDIBLE). Seconded by Mayer. Ail in favor. <br /> <br />(TAPE INAUDIBLE) <br /> <br />PRESENTATION/DISCUSSION - SUPERIOR METROPOLITAN DISTRICT NO. 1 <br />TREATED WATER SERVICE AGREEMENT <br /> <br />(TAPE INAUDIBLE) <br /> <br />Susan Griffiths, City Attorney. <br /> <br />Griffiths: <br /> <br />There are four revisions to the <br />wording of the agreement. On page <br />4, 10 lines from the top to the line <br />that begins "Louisville's Water <br />Treatment Facilities", after the <br />word "which" we would insert "water <br /> <br />11 <br /> <br /> <br />