City of La Junta Board of Utilities Agenda Packet 2026-06-09
City recommends state authority loan for water project
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Description
The La Junta Utility Board recommended City Council approval of a Drinking Water Revolving Fund loan and governmental agency bond with the Colorado Water Resources and Power Development Authority, including $6.245 million in principal forgiveness and $8.715 million to be repaid at 1.7% over 30 years. The funds will support distribution main improvements and replacement of lead and non-compliant service lines.
Contract Details
Contract Amount
$6.245 million in principal forgiveness and $8.715 million to be repaid at 1.7% over 30 years
Vendor
COLORADO WATER RESOURCES & POWER DEVELOPMENT AUTHORITY
Agency
City of La Junta, CO
Contract Type
FINANCIAL_SERVICES
Document Date
June 9, 2026
Contract Term
30 years at 1.7% interest
Renewal Date
2056-12-31
Renewal Info
Thirty-year loan at 1.7% interest under the Drinking Water Revolving Fund with $6.245 million in principal forgiveness and $8.715 million to be repaid; no renewal terms mentioned.
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