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r - <br />SEP 14197 <br />BOOK 69 FACE 4:x7 <br />Mr. Diamond noted that it is fairly obvious that it will be <br />necessary for the Board to set priorities. <br />Chairman Scurlock brought up the possibility of considering <br />the rate of return on utilities, especially since we haven't had <br />a rate increase for five years. <br />OMB Director Baird advised we will be looking into this but <br />first had to get our feet on the ground; last year was the first <br />year Utilities broke even. He agreed that we may have to do a <br />rate increase. <br />Mr. Diamond advised the Board that there was one other thing <br />he would like to work with them on, and that is the possibility <br />of getting an upgrading of bond rating. This would take a lot of <br />work, and he did not know if it is even possible. <br />Chairman Scurlock asked what elevating our rating by one <br />level would mean, and Mr. Diamond felt possibly 25 basis points. <br />The Chairman noted that we are talking about a quarter of a <br />percent on possibly 70 million dollars, and he felt that would be <br />worth pursuing. <br />Mr. Diamond noted that if you go to bonding agencies and <br />they don't know you, they look at you very carefully, but if you <br />have been keeping them informed so they are familiar with you, <br />you at least have an edge. <br />Director Baird felt the Commission has taken a step in that <br />direction by allowing him to increase his cash forward. Also, <br />Finance Director Ed Fry got a Certificate of Conformance for the <br />County, and that is very important. <br />The Chairman congratulated Mr. Diamond and Director Baird on <br />their presentation, and Commissioner Bird agreed that the format <br />of the presentation was very simple and clear. <br />- = There being no further business, on Motion duly made, <br />seconded and carried, the Board adjourned at 12:00 Noon. --- <br />ATTEST: <br />C lerk- <br />13 <br />w <br />