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t . . <br /> 2 <br /> Commissioner Marshall asked if in the $750,000 the payback of the loan for <br /> phase one was included. Kordell suggested the loan be repaid with the user fee <br /> that would be charged the customer. <br /> Geoffrey Gledhill explained there is an amount of money that is being <br /> borrowed from FmiA that will be paid back by the sale of net debt reduction <br /> bonds; the County is lending an additional $136,000 to the project which will <br /> be repaid by tap fees. <br /> Chair Willhoit suggested that if the fixed amount of the monthly payment <br /> set in an amount necessary to repay the bond indebtedness were kept constant, <br /> the fixed amount would generate new funds to expand the system. Tap fees could <br /> then be used to pay the $136,000 which is the second loan from the County. <br /> Attorney Gledhill pointed out that the initial 191 customers would not be <br /> subject to the acreage fee or the tap fee. <br /> In summary, Chair Willhoit noted the mechanism is available to proceed <br /> with the modified plan with a commitment to provide the service to the 191 but <br /> the timetable beyond the base area would depend upon revenues and adoption of a <br /> fee schedule that would include a monthly charge, a fixed monthly charge for <br /> retirement of the debt service and some combination of availability fee, front <br /> frontage or acreage fee. The tap fee is more appropriately called <br /> "availability fee". <br /> . I 4. IsiS _1 E A TE ,TE; • CT_ON , 9 'UCH; E C. . '' (A copy <br /> of the original list of modifications and suggested changes is in the permanent <br /> agenda file.) <br /> After extensive discussion and comments from Mayor Frank Sheffield and <br /> Commissioner Lynwood Brown, several changes were made to the modifications <br /> presented by the Town of Hillsborough to the Wastewater Collection and Purchase <br /> Contract. <br /> Mayor Sheffield agreed to take the changes back to the Town Board for <br /> their approval. <br /> There was a general consensus of the Board on four points: <br /> 1. Go with the modified plan. <br /> 2. Commit to the 191 to satisfy the agreement, subject to point <br /> 3. <br /> 3. Adopt a timetable for extension to the 191 customers subject <br /> to the availability of revenues. <br /> 4. Adopt a fee schedule to generate additional revenues. <br /> Motion was made by Commissioner Marshall, seconded by Commissioner Carey . ' <br /> to adopt the modified plan presented by Hazen and Sawyer and authorize Hazen <br /> and Sawyer to prepare whatever is necessary to submit the base bid plus <br /> alternates A and C if money is available. <br /> VOTE: UNANIMOUS. <br /> ADJOUNMENT <br /> Chair Willhoit adjourned the meeting at 4:20 p.m. The next regular <br /> meeting will be held on May 28, 1985 at 7:30 p.m. in Superior Courtroom, <br /> Hillsborough, NC. <br /> Chair Don Willhoit <br /> Beverly A. Blythe, Clerk <br /> • <br />