Fort Morgan: Council okays lease price for Colorado-Big Thompson shares

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From The Fort Morgan Times (Jenni Grubbs):

The Fort Morgan City Council voted Tuesday night to set the prices for shares of Colorado-Big Thompson water owned by the city, which could be purchased by local businesses.
The price has been set based on a rolling three-year weighted average of C-BT shares bought by the city. Over the course of three years, the city bought 199 shares for a total cost of $1,479,250. That averages out to $7,433.42, which is the price council members approved for the current year. That rate would be adjusted in the future based on future averages. The $7,433.42 per share covers the cost of “the water rights portion of a tap fee, when C-BT water must be purchased to cover increased water use by an existing customer, and for new business purchases,” according to a memo to the council from City Water Resources Director Gary Dreessen. In addition, council members approved a $500 service fee per related transaction, except for certain tap fees that have all fees included in one price.

More Morgan County coverage here and here.

One Response to Fort Morgan: Council okays lease price for Colorado-Big Thompson shares

  1. David Walker says:

    Have Big t water shares for lease

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