04241978 Regular Meeting - Laserfiche WebLink

Home Browse Search

0- ~'<;':' I . I ~ I Page Four Report on Information Supplied to the Water Rate Consultants 89c I 5. Year 1982 - Enlarge Spring Lake Storage: $370,000 Spring Lake Pump Station is the main source of supply for the low level system. Current storage capacity at Spring Lake is 200,000 gallons and should be increased to .75 to 1.0 million gallons. Although this would not provide additional pressure or supply it would provide for a better source of supply during power failures. 6. 1980-81-82 Main Replacement for older lines and two inch lines in system: $600,000 Total water projects .... $2,686,000 Our present collections are going well in the Utility Departnent. We have collected $267,620 from current services so far this year and $285,000 from all services for the first four months. If these were to be representative we would bring in about $855,000 for the entire year, leaving us possibly $45,000 to $50,000 short of the necessary funds for this fiscal year. The consultants will recommend that more than this amount be raised to provide us the necessary coverage in our utility fund to allow us to sell revenue bonds over the next five years to pay for our capital improvements. If the Council is agreeable to the capital improvements but does not desire a bond issue, I would anticipate that the rates would be much higher to enable us to meet some of our obligations. The capital improvements plan is at best only representative at the present time as to possible items to be included. They were selected from various reports already presented to the Council. In the final analysis before anything is presented to the voters we may trim some projects based upon perceived needs at the time. The rates the consultants will be considering will provide us the capability to sell bonds over a five year period to undertake these projects, without an increase beyond that being proposed now. CJW/kb