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City Council Water & Sewer Subcommittee <br />Feb. 18, 2003 <br />Page 13 <br />the process of pumping the water to Campbell Soup and where they are taking <br />their water. <br />Chairman Plata asked if any one had questions they wanted answered or <br />information that they wanted to be available at the next meeting. <br />Councilwoman Neeley asked for a breakout of the total overhead budget. <br />Mr. Quarles said he would like to see the transfer figure broken down. Ms. <br />Davidson said even if they can't make cuts in your transfers that are specific to <br />the water department, there may be other places that the city might make cuts to <br />lower the cost that will help curb the cost in the transfers to the water <br />department. <br />After further discussion, Chairman Plata announced that the next meeting for the <br />Committee will be scheduled for March 18, 2003, at Paris Junior College <br />Applied Technology Building, Room 1206. <br />Mr. Bell wanted to know if they could look at some of the debt service and see <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 />Mr. Wilson wanted to know if he was remembering correctly that, at some point <br />three or four years ago, the city delayed paying anything on the principal or <br />interest of a debt issuance in order to avoid a rate increase. <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 been <br />a time when the city did not pay either interest, or both principal and interest. <br />He said he would look up what debt issue that was. <br />Chairman Plata asked Mr. Campbell to bring back the number of employees that <br />he is short in his departments. <br />