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0 <br />ATTORNEY COLLINS INFORMED THE BOARD THAT IN A TRANSFER YOU ARE <br />CONSIDERING THE ABILITY OF THE TRANSFEREE TO PERFORM THE DUTIES AS SET OUT <br />IN THE ORIGINAL FRANCHISE. HE SUGGESTED THAT THE BOARD MIGHT CONSIDER A <br />BOND TO ASSURE THE EXISTING PROBLEMS WILL BE CORRECTED, <br />COMMISSIONER SCHMUCKER NOTED THAT THE MEW COMPANY IS INTERESTED <br />IN EXPANDING THE SYSTEM, WHICH HE FELT WOULD BE A HELP TO THE COUNTY AND <br />WOULD BRING IN ADDITIONAL REVENUE, BUT HE IS CONCERNED THAT THE TRANSFER IS <br />LINKED WITH THE INCREASE IN RATES. <br />CHAIRMAN SIEBERT STATED THAT WE MUST KNOW THE COMPANY WILL BE <br />ABLE TO OPERATE EFFICIENTLY, AND WITHOUT KNOWING THE RATES, HOW CAN WE DETERMINE <br />THIS? <br />COMMISSIONER WODTKE ASKED IF ATTORNEY HENDERSON WAS SATISFIED <br />THAT THE NEW SEWER PLANT WOULD MEET ALL THE REQUIREMENTS SET OUT IN THE D.E.R. <br />NOTICE OF VIOLATION. <br />ATTORNEY HENDERSON STATED THAT HE WAS. <br />COMMISSIONER WODTKE THEN ASKED IF TREASURE COAST UTILITIES WOULD <br />ACCEPT A TRANSFER SUBJECT TO COMPLYING WITH THE D.E.R. NOTICE OF VIOLATION, <br />AND ATTORNEY HENDERSON FELT THAT WOULD BE AGREEABLE. <br />ATTORNEY COLLINS STATED IF THE BOARD APPROVES THE TRANSFER, THEY <br />CAN ADD ADDITIONAL TERMS TO THE FRANCHISE AT TIME OF TRANSFER REQUIRING COM- <br />PLIANCE, AND IF THEY DON T COMPLY, THAT IS BASIS FOR DEFAULT, <br />COMMISSIONER WODTKE STATED HE WOULD LIKE TO SEE THE BOARD CONSIDER <br />THE TRANSFER, AND THEN IN REGARD TO THE RATE STRUCTURE, TAKE THE FIGURES SUB- <br />MITTED AND LET THE ADMINISTRATORS STAFF WORK OUT THE RATE STRUCTURE THAT <br />WOULD GIVE THEIR RETURN. <br />COMMISSIONER Loy SAID SHE FELT IT WAS THE RESPONSIBILITY OF TREAS- <br />URE COAST TO DO THE REFIGURING AND SUBMIT IT TO THE BOARD TO BE CHECKED. <br />COMMISSIONER SCHMUCKER ASKED MR. LOHMAN IF HE WISHED TO HAVE THE <br />FRANCHISE TRANSFERRED WITHOUT HAVING A RATE SCHEDULE. <br />MR. LOHMAN SAID HE DID NOT. <br />ATTORNEY HENDERSON STATED IF YOU ACCEPT THE PRO -FORMA EXPENSES <br />SUBMITTED AND 10% AS A REASONABLE RATE OF RETURN, THEN IT IS SIMPLY A MATTER <br />OF COMPUTING WHAT RATE STRUCTURE WILL GIVE THIS RATE OF RETURN. <br />g 25 -_ .4=. 4 <br />