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MIN CHC 1989-02-15
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MIN CHC 1989-02-15
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Last modified
7/19/2018 10:49:51 AM
Creation date
4/9/2018 10:07:20 AM
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AGE/MIN (Charter Comm.)
Agency
Charter Commission
Year
1989
Meeting date
2/15/1989
Type
MIN
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AGE CHC 1989-02-15
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\County Clerk - Council\County Clerk\Charter Commission\1990\Agendas
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CUSHNIE: That ' s services (inaudible)? <br /> SEWAKE: (Inaudible. ) <br /> CUSHNIE: . . .debt service is the word I was looking for. <br /> I believe the County is limited to a prudent level of 18 or 15% <br /> debt service to. . . <br /> SEWAKE: Along there, appraised property. <br /> CUSHNIE: . . . of the other appraised property? And you <br /> have no such limitations? <br /> SEWAKE: Well , what we do is , we. . . since it ' s general <br /> obligation bond, it would be under the County limit. But <br /> whenever we have a bond float , I guess , it ' s kind of programed <br /> with our rates (inaudible) and it would be a County variance. <br /> I don' t know if I answered your question, I mean, but that ' s <br /> one aspect of it anyway. <br /> CUSHNIE: Uh-huh. <br /> SEWAKE: So it ' s roughly about ten cents per $800 , 000 <br /> (inaudible) . <br /> CUSHNIE: You could therefore issue bonds in any amount <br /> that you wanted or sell bonds? <br /> SEWAKE: In any amount that we feel our customers are <br /> willing to pay. I would like to mention that I think really <br /> what helped us get us on our feet was the Legislature and. . .and <br /> I got to give credit to people like Bill Chong and Bill <br /> Thompson and Akira, who really went to pursue grants-in-aid <br /> from the Legislature, which is free money. That ' s why we <br /> didn' t have to float so many bonds all this 40 years. <br /> CUSHNIE: Uh-huh. <br /> SEWAKE: And if you look at our. . . the last page of <br /> the. . . if you look (inaudible) in service, 1949 was a million <br /> dollars , and right now it ' s $105 million. I think a good deal <br /> of that was because of their efforts in getting free money. <br /> BETHEA: You said in your presentation that the main <br /> source of funding comes from your customers . I had a <br /> question. What other sources of income did you refer to? <br /> SEWAKE: Well , our operational sources (lost some <br /> conversation in tape change) and also, we have facility charges <br /> to developers , which is (inaudible) type fee. <br /> BETHEA: The facility charge is designed to help defray <br /> the capital expenditure portion? <br /> 93 <br />
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