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i <br /> 8/7/84 Page -8- <br /> analysis. He wanted to know first if Council <br /> would subscribe to that approach. Then if <br /> so they would look at someone that hopefully <br /> would meet the Council's credibility. <br /> Mayor !Meier noted that John Alshuler had signed up to <br /> speak on this item. Asked if they wished <br /> to speak at this time. The reply was no. <br /> In reply to Councilman Luce' s inquiry regard- <br /> ing the data being sought, Mr. Rupp stated <br /> in looking at scenario #7 at the end of the <br /> period, it shows a significant surplus in <br /> the amount of 28 million dollars. #7 scenario <br /> was one that was looked at as being a favorable <br /> analysis, which certainly shows the long term <br /> effect of the revenue picture at the end of <br /> 20 years. But the initial way to get there <br /> by adding a very high tap fee increase at <br /> this time maybe reviewed in terms of long <br /> term as not a reasonable approach to .the <br /> tap fee. If the surplus is such that the <br /> revenue and expenditure picture cannot be <br /> rationalized.therefore he felt this needed <br /> to be reviewed. Also, the expenditure figures <br /> need to verified. <br /> Councilman Luce Commented that he noted in all the scenarios <br /> that the expenditures were not extended for <br /> 1987 as related to pipes and main replacement <br /> and he wasn't certain how that could be cal- <br /> culated by the financial analyst. Mr. Luce <br /> also inquired about the timing of the analysis, <br /> since the fast-track approval had been given <br /> for the Howard Berry Plant. <br /> Mr. Rupp stated that they had met with the <br /> Hamart representatives and asked what the <br /> absolute date was as to when they need to pro- <br /> ceed. They stated there was still sometime <br /> in the month of August. Mr. Rupp stated that <br /> he felt uncomfortable with some of the figures <br /> provided by KIM - one of the expenditure figures <br /> was totally left out of the plan. KKBNA was <br /> proceeding from an engineering point on the <br /> project at this time so we are not losing time <br /> in order to complete this by June 1, 1985. <br /> He further stated in regard to the time frame, <br /> all agreements with the developers need to <br /> reviewed as to what the decision that is <br /> made this evening. Homart's agreement is <br /> somewhat different than other developers <br /> as to pay-back provisions , etc. <br /> • <br />