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0 088 It would take approximately $700,000 to build the remainder of phase 1 to serve the 191 people who signed customer agreements. It would take 800 to 1,000 new customers to generate the $700,000 by resident equivalent with the proposed rate structure. One way to reduce the amount of time would be to charge an acreage fee ($300 or $400 an acre) or a front foot fee. This would reduce the amount of new customers needed to raise the money by one half. Commissioner Marshall asked if in the $750,000 the payback of the loan for phase one was included. Rordell suggested the loan be repaid with the user fee that would be charged the customer. Geoffrey Gledhill explained there is an amount of money that is being borrowed from FmHA that will be paid back by the sale of net debt reduction bonds; the County is lending an additional $136,000 to the project which will be repaid by tap fees. Chair Willhoit suggested that if the fixed amount of the monthly payment set in an amount necessary to repay the bond indebtedness were kept constant, the fixed amount would generate new funds to expand the system. Tap fees could then be used to pay the $136,000 which is the second loan from the County. Attorney Gledhill pointed out that the initial 191 customers would not be subject to the acreage fee or the tap fee. In summary, Chair Willhoit noted the mechanism is available to proceed with the modified plan with a commitment to provide the service to the 191 but the timetable beyond the base area would depend upon revenues and adoption of a fee schedule that would include a monthly charge, a fixed monthly charge for retirement of the debt service and some combination of availability fee, front frontage or acreage fee. The tap fee is more appropriately called availability fee-. 5 MODIFICATIONS IN THE WASTEWATER COLLECTION AND PURCHASE CONTRACT (A copy of the original list of modifications and suggested changes is in the permanent agenda file.) After extensive discussion and comments from Mayor Frank Sheffield and Commissioner Lynwood Brown, several changes were made to the modifications presented by the Town of Hillsborough to the Wastewater Collection and Purchase Contract. Mayor Sheffield agreed to take the changes back to the Town Board for their approval. There was a general consensus of the Board on four points: 1. Go with the modified plan. 2. Commit to the 191 to satisfy the agreement, subject to point 3. 3. Adopt a timetable for extension to the 191 customers subject to the availability of revenues. 4. Adopt a fee schedule to generate additional revenues. Motion was made by Commissioner Marshall, seconded by Commissioner Carey to adopt the modified plan presented by Hazen and Sawyer and authorize Hazen and Sawyer to prepare whatever is necessary to submit the base bid plus alternates A and C if money is available. VOTE: UNANIMOUS. ADJOURNMENT Chair Willhoit adjourned the meeting at 4:20 p.m. The next regular