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<br />/ <br /> <br />. <br /> <br />. <br /> <br /> <br />/ MEMORANDUM <br /> <br />TO: The Fort Morgan File <br /> <br />FROM: Bill Green <br /> <br />DATE: November 3, 1997 <br /> <br />SUBJECT: Fort Morgan Project Meeting of Today <br /> <br />Attendance: Loring Harkness, Dave Yamada, Perry Eisenach, , Unknown, Alan Matlosz, <br />Mike Brod, Linda Sundine, Leroy Cruz, Linda Bassi, Bill Stanton. <br /> <br />Reviewed Table 1, project costs, and Table2, funding scenario, in my memo to the Board <br />of7/15/97. No changes. <br /> <br />City staff provided new set of revenue/expenditure projections w/ DSCR. City also <br />provided breakdown of revenues for various customer classes and explanation for EDUs. <br /> <br />USDA RD has committed $8.0m in grant and loan. To be disbursed after that particular <br />segment of the project is completed. They are not limited wrt project items. WPA cannot <br />fund a reservoir. City is applying for additional $8m from RD in FY 98. This might <br />reduce WP A financing. <br /> <br />CWCB funds will be dedicated to the pipeline. NCWCD is in process of acquiring ROW <br />and has hired engr., Montgomery Watson for design. NCWCD will own the PL and City <br />will own major portion ofPL capacity. <br /> <br />City has hired Burns & McDonald to do their design work. <br /> <br />City council is expected to adopt a schedule of rate increases for Jan. '98, '99 and 2000 <br />for eventual avg. household rate of about $55 per month. Schedule to be adopted at Dec. <br />1, '97 council meeting. City will be 100% metered by next year. <br /> <br />Parity for the interim bond financing will be based on the rate increase schedule. All three <br />financing agencies will have parity. Water & Power bonds will be insured. Water & <br />Power Board will consider in December. <br />