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463 <br />below that figure he provided comparable information for the prior year. <br />Mr. Anderson also gave the City Council the same type information for the <br />Water and Sewer Fund, showing a negative of 1.5 million dollars. Mr. <br />Anderson said this situation is the same thing that has been talked about in detail <br />in the last two budget workshops. He said the 9.5 million dollar Water and <br />Sewer Bond Issue that was done is the primary reason there is a problem in the <br />Water and Sewer Fund. Mr. Anderson told the City Council that to fund the 9.5 <br />million dollars, which the city really did not have a choice in doing, puts an <br />additional five of six hundred thousand dollars a year strain on that fund. He <br />said those bonds were issued in the year 2000 and there has not been any sort <br />of rate adjustment since January of 2000. The rates have never been adjusted <br />to compensate for that last bond issue, and as a result, that is the primary reason <br />that the City has the problem in that fund. Mr. Anderson advised that if they <br />would look back over the past three years and look at the non - capital budget, the <br />operating and maintenance part of the budget, it'has been basically flat. Mr. <br />Anderson felt this is something that will be addressed in the near future. <br />He said the next item is the Wastewater and Sewer System 2000 Series <br />Construction Fund (9.5 million). Mr. Anderson said there is 7.2 million dollars <br />left and there was a resolution passed tonight authorizing use of some of that <br />money with building of the water tower on Bonham Street and the water line to <br />that, which will be close to four million of that seven million dollars plus a <br />number of other projects that are on the board to be constructed. <br />Mr. Anderson discussed the Tax and Revenue 2000 Services Construction Fund. <br />Of the six million dollars, the city has done several projects and gave an <br />example of the projects that were left to do, such as the Wade Park/Lamar <br />Avenue Drainage Project and the Stillhouse Road Improvement Project. <br />Mr. Anderson advised that the Certificate of Obligation 2002 is the money that <br />the city issued to build the Police and Court Facility. <br />Mr. Anderson pointed out that below the Cash and Investments item, he has two <br />