Minutes-8/4/1998 (2)

* Water Revenues - 10% increase per year for three years - then level * Sewer Revenues - 10% increase per year three years - then level * Recommended limit on available debt service capacity - 70% He urged the City to continue the repayment of the 1995 G.O. Bond from water and sewer revenues, which would then allow the TIF revenues to be used for street and park projects. The Committee agreed that it would be difficult for the City Council to increase water and sewer rates again for at least two to three years in order to finance repair and replacement projects. Callahan reported that he had obtained the information that he needed to conduct the study of fire protection and EMS services. He urged the City to check the courthouse records to determine whether the City or the Fire Association owned the land occupied by the Fire Station and City Hall. He noted that he would prepare a preliminary report of his findings in late August or early September. The Committee agreed to cancel the August 26th meeting in order to allow Callahan and Singer more time to prepare the first draft of a CIP. The Committee agreed to meet again on Tuesday, September 8 at 7:00 p.m. at City Hall. Submitted by, Patrick Callahan MCMC Consultant