More Funds Needed for Arkansas River Levee Repairs
Additional funds are needed to complete repairs on the Arkansas River levee that protects downtown Pueblo from flooding.
A little over a mile of the levee has been rebuilt during the last three winters. This construction turned up conditions that increased the total project cost to $22 million.
Don Banner, attorney for the Pueblo Conservancy District, which oversees the levee, has filed a court motion to give the district more flexibility in setting the maintenance fees charged to property owners.
"That doesn't increase the maintenance fund at all, it just allows the board to go out to the bond market to see what are... the lending rates."
If the court approves the motion, the district could increase the annual fee by up to 35 percent, which will allow them to obtain necessary financing. They would be able to decrease fees when the bonds are paid off.
The court hearing is April 28th. Notices to participate must be filed 10 days in advance.
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