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<br /> <br /> Lake Elmo City Council Water System Funding Workshop <br />Tuesday, January 14, 2013 <br />6:30 PM MINUTES <br />Mayor Pearson called the meeting to order at 6:30pm <br />Present: Mayor Pearson, Nelson, Bloyer, Reeves, and Smith arrived at 6:35pm. <br />Also present: Zuleger, Bendel, and Bell I. Call to Order Mike Pearson, Mayor 6:30 PM <br /> <br />II. Pledge of Allegiance Zuleger gave overview of what the workshop would entail and explained the objectives <br />• Provide clean potable water to residents <br />• Cash flow both from a debt service and operation and maintenance perspective / funding <br />sources <br />• Accommodate growth and groundwater limits. <br />III. Water System Needs 6:35 PM <br /> A. Trunk Water System Infrastructure Needs Jack Griffin, Focus 6:35 PM <br />Griffin gave overview of the current water system and the projects included in the 2014-2018 CIP. The need for replacing the village piping was discussed. Reasons given were size of pipe and age/quality. <br />Reeves asked about how many residents would have access when the system is complete. Griffin <br />stated that each neighborhood would have to request it. <br /> B. Extension Strategy Council Discussion <br />IV. Water System Costs / Cash Flow Needs 7:15 PM <br /> A. Existing Water Debt Cathy Bendel <br />Bendel provided overview of existing debt. Discussion of use of reserves. Mainly O&P. Overview and discussion of Water Fund annual cash flow. <br /> <br /> B. Funding Strategies Dean Zuleger <br />Zuleger explained the funding strategies. <br />• Water connectivity / connection charges <br />• Letter of credits / security bonds <br />• Private investments / construction of extension <br />• State bonding <br />• Resolution with 3M