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<br />4. Presentation by Al Fields of the recent visit by A1, Bob <br />Herrera, Steve Gillett, and David Fetzer to the Texas Water <br />Development Fund. Discussed the requirements in order to obtain <br />funding, including Engineering Report, Environmental Assessment, <br />and a Water Conservation Plan. Pete Fisher discussed three (3) <br />amortization schedules for funding from the Texas Water <br />Development Fund, La Porte Area Water Authority Revenue Bonds, <br />and City of La Porte Certificates of Obligations. (A copy is <br />attached). He indicated that the Water Development Fund"s <br />estimated interest rate at 6.75, including the Funds" handling <br />charge. The probable interest rate for Authority Revenue Bonds <br />is 7.75, and 7.25 for Certificates of Obligation issued by the <br />City of La Porte. Discussion of the three (3) alternatives <br />followed. Pete Fisher indicated that a letter has been sent to <br />the Texas Water Development Fund outlining the Authority"s <br />financial needs, and indicating an interest in this funding <br />method. (A copy is attached). <br />5. Turner Collie & Braden presented three (3) alternative <br />distribution systems, together with total costs, allocated <br />costs, and cost per thousand gallons. (Copy is attached). <br />Discussion of charging each customer different per thousand <br />costs, per their individual transmission needs, or charging an <br />average cost per thousand, and treat all transmission and <br />distribution lines as one system. The advantages and <br />disadvantages were discussed. <br />Turner Collie & Braden and Moroney Beissner will recalculate <br />debt service requirements based on 7i6 at 25 years to arrive at <br />an accurate per thousand cost, both for individual customers and <br />an average cost. <br />6. Authority Attorney John Armstrong presented a proposed contract <br />between the Authority and customers. <br />The next meeting of the Board, including potential customers, on <br />February 19, 1987, at 7:00 P.M. at City Hall Council Chambers. <br />7. There being no further business the meeting was adjourned at <br />9:20 P.M. <br />Resp t ully Submitted, <br />Rick Matthews,Secre ry/Treasurer <br />PASSED AND APPROV D: <br />THIS THE AY OF ~~,~j , 19~ <br />