The Town of Nederland is planning to move forward with the idea of buying Eldora Mountain Ski Resort, which is located just 10 minutes from the small town in Colorado.

A small Colorado mountain town of about 1,500 people has announced plans to purchase a popular ski resort currently under corporate ownership. The town of Nederland announced Tuesday that it will be buying the

To pay for Eldora, the town will issue municipal revenue bonds “backed only by the resort’s earnings, which is profitable enough to service the debt.”