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Regular City Council Meeting <br />June 9,2003 <br />Page 18 <br /> <br />Mr. Anderson said it would depend on what the work the city expected of the <br />contractor. If the company only operates the plants then the city would still be <br />doing the record keeping, taking bid proposals, and other administrative work. <br />Mr. Anderson said City Council would still be responsible for setting the water <br />and sewer rates. Even if a company operates the plants, that is a responsibility <br />that city council does not delegate. <br /> <br />City Attorney Schenk advised that was the point he was going to make when Mr. <br />Plata mentioned the model contract that OMI sent to the city. He said there are <br />two issues to consider. First, it is the vendor's contract and he has a problem <br />with adopting whatever they might provide. Second, the city needs to know what <br />level of services the City Council was to bid out. Do you want to bid everything <br />from billing to representing us in front of administrative agencies? Do you want <br />to consider seeking proposals to operate the waste water plant, operate the water <br />plant, maintain the lines, or maintain the lift stations? The City Attorney said <br />that city staff would need to know what City Council wants proposals on and like <br />any other proposal they is going to be some gains and some losses. He said that <br />even if they are going to be operating the two plants, the city is still going to have <br />to have staff to maintain the lines, handle permits, prepare the billing and many <br />other things. <br /> <br />Dan Almon with Southwest Securities appeared before the City Council <br />explaining that he is here to give them information on a couple of outstanding <br />bond issues. Currently the Series 1993 and 1994 bond issues could be refunded <br />because interest rates are much lower today. Mr. Almon said he was here to <br />make Council aware of the mechanics and the potential refunding and at the <br />conclusion of his remarks determine if the Council would like for them to go <br />forward and affect that savings. Mr. Almon advised that when they talk about <br />refunding bond issues, it is understood that they are a product of interest rates <br />and the savings are volatile. Bonds are going to change subject to the rates as <br />they change from day to day. He said it will take approximately six to eight <br />weeks to get to market. If the city authorized them to proceed, they will try to <br /> <br /> <br />