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1 <br />1 <br />1 <br />3/6/72 <br />can yet know what expenses are going to be. The concensus was that by fill- <br />ing this out we might be doing more harm than good to our village at present. <br />Mr. Locher noted that since nothing was levied last year the assessment F.4., <br />should be zero. <br />Mr. Strand noted that it might be that when the first page is all zeros they <br />may not even expect the rest to be filled out. He did feel it would be good <br />for the Village to go through the form and see some of the things they will <br />come up against. These would be wild guesses with no prior experience, but <br />it would be a good review. <br />Mr. Marier noted that the local lateral charges are the only ones we have <br />had to do with. The only outlay is the $550,000 bond for the laterials. He <br />also felt we would be leading Metro astray to say we had plans laid out. No <br />preliminary plans have been made, and for the purpose of this form we haven't <br />and aren't budgeting. No bonds have been bought for the Lino - Centerville <br />project. Mr. Cardinal concurred with him that we really should tell them <br />what our actual situation is, and then begin work with Mr. Strand on it. <br />F.3.,taxes is $10,000. <br />Mr. Marier moved to send this form back to Metro with: Page 1 - All zeros <br />Page 2 - F.3. $10,000 Page 3 - 2 (c) $10,000 Page 4 - Indicate no formula <br />has been computed but that we are presently working on it. <br />Seconded by Mr. Cardinal. Carried unanimously. <br />Mr. Marier wondered where the hook -up funds are indicated on the Construction <br />Fund sheet, March 6, 1972. Mrs. Emerton said that the hook -up funds don't go <br />into the Construction Fund, but that she has an account titled, Debt. Redemp- <br />tion #3, set up to collect these fees. She then reviewed what these Redemp- <br />tion Funds were for: Debt Redemption Fund #1 - $100,000 bonds and interest <br />for the municipal building. Debt Redemption Fund #2 - $550,000 bonds and <br />interest for sewer & water construction. Debt Redemption Fund #3 - $500.00 <br />hook -up fees. Debt Redemption Fund #4 - $10,000 levied to pay the Metro Sewer <br />Board assessment. <br />There was much discussion as to how this $500.00 fee should be earmarked. <br />Mr. Strand suggested some communities use it to hlep with deferred payments. <br />Mr. Marier wondered if we will continue getting deferment payments even though <br />we are premature in our sewer allocations because of population. Mr. Locher <br />said yes, and the sooner we pay them, the less interest charges there will be. <br />Jandric has agreed to this $500.00 fee although they have nothing to hook -up <br />to. They have it budgeted in the costs of their homes. <br />Mr. Bohjanen stated that we mustwork out a method of financing that we can <br />work with by the end of the year. Mrs. Swanson noted that homeowners can pay <br />off their assessment charges over 20 -30 years. This doesn't give the village <br />any money with which to work. Green Acres and deferred payments you won't <br />make anything on. The only workable monies are the hook -up fees. <br />Mr. Strand indicated that the Council hasn't gone on record to state what to <br />do with the $500.00 hook -up fee. It is not stated to be used to pay off bonds. <br />There was general discussion as to how various villages charge for hook -up <br />and interceptor and homeowner frontage fees and assessments. <br />There was general discussion with the feeling that the village shouldn't go to <br />195 <br />