HomeMy WebLinkAboutgr00090_000010_pg137-019Mr. Meyers called attention to the items included in the sanitary
sewer program which are: surface drainage, construction of sanitary sewer
interceptors and laterals, complete street resurfacing, equipment necessary
to service the sanitary sewer system and a maintenance building for storage
and small repairs.
Mr. Hodges took the floor at this time and sheets were distributed
showing the method by which these improvements willbe paid. (copy attached)
A short recess was called.
Mr. Hodges introduced Mr. James Olson of Juran & Moody, who discussed
the financial aspects of the plan. He explained that preliminary work done
by the Engineers and information supplied from other sources were used in
trying to work out a plan of financing which they feel is feasible for the
Village. In a rapidly growing suburban area such as ours, financing is
most important to the economic stability of the community. He stated this
program does not necessarily mean this is the way it has to be done, but it
is being considered by the Council, and for that reason it is explained in
detail. The first step was to make an estimate of the principal and interest
which might be required on bonds we would have to have. Wecan not go beyond
thirty years for a bond issue, considering an improvement of this size and
the amount of the assessments necessary. The cost of what it will take to
operate a maintenance system is also considered. It is necessary to estimate
where the money will come from to pay the money back. Basically, there are
three sources:
1. Part will be assessed
2. Part will come from sewer rentals
3. Part from a tax increase
Mr. Olson explained the assessment charges shown for the various size
lots on the sheets which were distributed earlier. The assessments take
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