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<br /> .rte <br /> Council Chairman and Committee Members <br /> January 7, 1998 <br /> Page 3 <br /> • ISTEA <br /> According to Public Works, they are currently <br /> working on projects with the following matching <br /> requirements: <br /> 1998 2.73 million <br /> 1999 3.34 <br /> 2000 0.41 <br /> Total 6.48 <br /> It is noted that there may be more projects as more funds <br /> become available. ISTEA projects are funded on a 20-80 <br /> match. <br /> As presented in Committee discussions, we do not issue <br /> bonds annually; however, we do approve capital budgets <br /> every year with general obligation bonds identified as a <br /> possible funding source. <br /> We hope that the foregoing has provided you with more <br /> insight as to how the process works. We look forward to <br /> working with the Council in addressing mandated issues and <br /> much needed improvements to our communities. <br /> Sincerely., <br /> qII~~ C~ <br /> HaYty A. akahashi <br /> Finance D rector <br /> HAT:aeb <br /> cc: Mayor <br /> <br />