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City Council Water & Sewer Subcommittee <br />Feb. 18, 2003 <br />Page 14 <br /> <br />if there is a chance of refunding. Mr. Anderson advised that he is working with <br />Dan Almon of Southwest Securities to see if this is possible. <br /> <br />Mr. Wilson wanted to know if he was remembering correctly that, at some <br />point three or four years ago, the city delayed paying anything on the principal <br />or interest of a debt issuance in order to avoid a rate increase. <br /> <br />Mr. Anderson explained that during the first or second year the principal <br />payment was not made. The city paid the interest payment and by structuring <br />it this way a rate increase was avoided. Mr. Anderson said there has never <br />been a time when the city did not pay either interest, or both principal and <br />interest. He said he would look up what debt issue that was. <br /> <br />Chairman Plata asked Mr. Campbell to bring back the number of employees <br />that he is short in his departments. <br /> <br />Chairman Plata also asked Mr. Townsend to bring back the number of <br />employees that he is short in his departments. <br /> <br />There being no further business, the meeting was adjourned. <br /> <br />BENNY PLATA, CHAIRMAN <br /> <br />ATTEST: <br /> <br />MATTIE CUNNINGHAM <br />CITY CLERK <br /> <br /> <br />