City of La Junta Board of Utilities Minutes 2026-05-12
Board Recommends State Loan for Lead Line Project
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Description
The La Junta Board of Utilities approved a resolution recommending City Council enter into a Drinking Water Revolving Fund loan and governmental agency bond with the Colorado Water Resources and Power Development Authority to finance phase 2 of the lead service line replacement and distribution main project. Approximately $14.96 million in financing includes $6.245 million in principal forgiveness and the remaining $8.715 million to be repaid over 30 years at 1.7% interest.
Contract Details
Contract Amount
$8.715 million to be repaid; $6.245 million principal forgiveness (total project financing approximately $14.96 million)
Vendor
COLORADO WATER RESOURCES & POWER DEVELOPMENT AUTHORITY
Agency
City of La Junta, CO
Contract Type
FINANCIAL_SERVICES
Document Date
May 12, 2026
Contract Term
30 years at 1.7% interest
Renewal Date
2056-05-12
Renewal Info
Single 30-year loan obligation; no renewals mentioned. Principal forgiveness portion does not require repayment.
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