BOT-01-14-74~I~ES OF SPECIAL I,~TING OF
BOAPJO OF TRUSTEES
J~dqUARY 14, 1273
The meetiug was called to order by President Fred Swift at 7:10 p.m. for the purpose of
conferring with Don ~Cullogh, consulting accountant, in regard to the upcoming bond
issue, for the funds needed to finance the 96th Street Wastewater Project. All board
members except Stan Beach were present. T~;n Attorney smd Tm~n ~L~nager were also presmt.
Mr. McCullough presented the boaml ~lth a financial report regarding the estimated
project costs, revenues and revenue requiremente ~nd other liabilities and source of
funds for the Carmel Sewage Works~ for the~.r revie~.~.
~,~. McCullough suggested to the board that they be thinking about the possible need to
raise rates, now or in the future, or continue not to ~llow special sprinkling rates,
in order to meet additional operating expenses.
~. McC~dlough reminded the board the figures were tenative and final decision ~st wait
for official verification on final amount of EPA and State Grants.
t~r. McC~llough stated to the board his early recommendation at this point would be-not
to raise rates, inasmuch as he thought the natural growth factor would balance out the
e~penses-but to keep a close annual check to catch the need to raise rates in the future
at an early date.
;,~. McCullough stated he could not foresee a bond issu* until the end of I~rch.
l~Lr. Beach arrived at 7:30 p.m.
In other business, ~. S~,lft read a request from T~*n Court Judge to transfer !~400 from
Acct. #5-52-Rents to new acct. #2-214 Telephone in the Tm,n Court Budget. I~. McFadden
moved to allow transfer, Mr. P&nshaw seconded it and it passed uns~imously.
~. I~Fadden moved to adjourn, ~. l~4nshaw seconded it and it passed unanimously at
7:50 p.~.
Peggy Loft 'S~th, ~rk-Treas.
FreJ T. S~ift?Preside~
Board of Trustees