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L <br />Capital Projects Engineer Bill McCain handed out sections of the Capital <br />Improvement Program report which was inadvertently not included with the backup. <br />Commissioner Adams questioned whether inter -fund borrowing from the impact fee <br />fund would be involved, and Mr. McCain responded that the fund to be used will be the <br />Operating & Management fund. <br />Commissioner Adams then questioned the 10% per year growth factor in water usage, <br />and Mr. McCain advised the figure is a compromise between projects examined and the <br />Master Plan. <br />Mr. McCain also noted that one of the tables indicated a payback of less than 1 year, <br />which should read "greater" than 1 year. <br />ON MOTION by Commissioner Adams, <br />SECONDED by Commissioner Tippin, the Board, <br />by a 4-0 vote (Commissioner Gann being absent) <br />unanimously approved (1) acceptance and <br />concurrence with the Utilities financial analysis <br />dated August 1997 by Brown and Caldwell; (2) <br />proceeding with the bidding and award process for <br />the project upon completion of the project's design; <br />and (3) authorized staff to proceed with surplusing <br />of the North Beach process equipment as outlined, <br />all pursuant to staff's recommendation. <br />ANALYSIS AND AGREEMENT WILL BE ON FILE <br />IN THE OFFICE OF THE CLERK TO THE BOARD <br />DECEMBER 23, 1997 <br />WHEN EXECUTED AND RECEIVED <br />-21- CO9K PAGE -- <br />