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RESOLUTION # 85
(Series of 2007)
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ASPEN, COLORADO, IN
SUPPORT OF THE CITY OF ASPEN 2007 BALLOT ISSUES KNOWN AS "CASTLE
CREEK HYDROPOWER FACILITY GENERAL OBLIGATION BONDS AND OPEN
SPACE CHANGE OF USE ", TO GRANT THE AUTHORITY TO ISSUE GENERAL
OBLIGATION BONDS AND THE CHANGE OF USE OF EXISTING OPEN SPACE
FOR THE PURPOSE OF CONSTRUCTING AND EQUIPPING A NEW
HYDROELECTRIC FACILITY ON CASTLE CREEK.
WHEREAS, the City of Aspen acquired approximately 11,774 square feet of
property located adjacent to the City's Street Department Shop on Power Plant Road
beneath the bridge with Open Space funds; and
WHEREAS, the original Castle Creek hydroelectric power plant was located on
the property; and
WHEREAS, the City owns and has continued to maintain certain assets related
to the original Castle Creek hydroelectric plant including water rights, easements, dams,
headgate structures, pipeline, and water storage facilities; and
WHEREAS, it is in the City's interest to renovate, reconstruct, and expand on
these existing assets for the purpose of generating hydroelectric power for the
municipal electric system; and
WHEREAS, the new hydroelectric plant will produce 5.5million kWh per year
which equates to the amount of electricity consumed by 655 typical homes in Aspen;
and
WHEREAS, The new plant will eliminate an estimated 5,167 tons of C02
emissions annually and existing coal-fired energy purchases will be replaced by clean,
renewable energy from the new hydroelectric plant; and
WHEREAS, the $5.1 million cost to build a new hydroelectric power plant will be
partially financed through existing appropriations ($780,000), REMP fund grant
($400,000) and if approved by voters, $3,920,000 in bond sales. The bonds will be
repaid with electricity sales revenues; and
WHEREAS, in conjunction with the Open Space Board and Use change rules,
the land will be replaced with land of equal value and that is more suitable to trails and
open space access; and
NOW, THEREFORE, BE IT RESOLVED THAT THE ASPEN CITY COUNCIL supports
the ballot questions known as "Castle Creek Hydropower Facility General Obligation
Bonds and Open Space Use Change" that will authorize the issuance of bonds to fund
the new hydroelectric plant and approve a use change on the original power plant site.
The Aspen City Council urges the electors of the City of Aspen to support said
proposed referendum and to vote "Yes" on its passage.
Dated:
/v /J /01
vm~~
Michael C. Ireland, yor
I, Kathryn S. Koch, duly appointed and acting City Clerk do certify that the foregoing is a
true and accurate copy of that resolution adopted by the City Council of the City of
Aspen, Colorado, at a meeting held October 9,2007.