1993-073 - Laserfiche WebLink

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FUTURE FINANCING ARRANGEMENTS Water System: The County is in the process of completing the design and permitting of the North County Reverse Osmosis Facility. In Fiscal Year 1993, the County will add two 5,000 gallon per minute (GPM) high service pumps at the South Regional Water Transmission Plant. In the County's Capital Improvement Program, the County has identified Phase I through VI projects. The Phases involve the installation of water fines to serve various undersized lots and subdivisions in the County. As described under "Description of the Capital Projects herein, a portion of the construction costs of Phase fI and Phase III will be funded with proceeds of the Series 1993 Bonds. At the completion of these Phases, the County will begin construction of Phases IV through Phase V1. In Fiscal Year 1993, the County is also in the process of installing a water main along County Road 510 to Pelican Point and will expand the water system through assessment districts. As Phase 11 and 111 are completed, the parcels of property that are specifically benefitted will be assessed for the pro rata share of the costs of the project and the assessments will become a part of the revenues pledged to the Series 1993 Bonds. Sewer System: The County is completing the construction and startup of the operations of the Sludge Septage Facility that was funded through the issuance of the Series 1991 Bonds. The project is expected to be completed and in operation on May 1, 1993. The County is also in the process of completing the design for the construction of the South County Wastewater Plant and Collection System and startup operations of the Blue Cypress Wastewater Facility. The County has also internally funded approximately 54,300,000 to complete design and construction of the Central Region Effluent Disposal Reuse System and expand its capacity to 2 million gallons a day (MGD). The County will continue to promote connections to its Gifford Wastewater System and its North County Wastewater System. In Fiscal Year 1993, through internally generated funds, the County expects to complete a project, which expands the transmission lines to the North Region Collection System, at an approximate cost of $920,000, complete an effluent connector force main between the North and Central Region Systems at a cost of approximately $1,200,000, construct a 1,000,000 gallon effluent storage tank at the North Region at an approximate cost of $450,000, construct a REWARD infiltration basin at an approximate cost of $840,000, and conned the privately owned Hawk's Nest Golf Course to the sewer system at an approximate cost of SL50,000. As described herein, under "DESCRIPTION OF THE CAPITAL PROJECTS" a portion of these Series 1993 Bond proceeds will be used to expand the capacity of the West Regional Wastewater Transmission Plant to 2,000,000 gallons a day and complete the effluent connector force main between the West and Central Regions. Combined System: Overall, the County's goats and objectives are to design/construct new water and wastewater facilities as required in the Comprehensive Plan in the Utilities Master Plan to provide potable water and wastewater service to the greatest number of new customers as possible. The goals and objectives include expanding the existing water and wastewater facilities to serve additional developments, evaluate existing facilities and renovate as needed to improve service to existing customers, continue to acquire existing water and wastewater franchise utilities and create assessment districts to provide water and wastewater services to undersized lots throughout the County. Based on the County Ordinance 91-09, it is the County's opinion that the water and wastewater rates that have been adopted are sufficient to provide the funds to complete the projects as specifically described above without increasing rates in the next several years. In the future, as the County pursues the goals and objectives that are described in this paragraph, it may be required to implement water and wastewater rate increases as the County funds additional projects. LITIGATION In the opinion of the County Attorney, no legal proceedings are pending or threatened that materially affect the County's ability to perform its obligations to the holders of the Series 1993 Bonds or that materially affect the financial condition of the System. 22