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X, 18�� x INTER-OFFICE MEMORANDUM <br /> Department of Public Works <br /> UWE�`"' Water Works <br /> �o11,LA � <br /> TO: City Council <br /> FROM: Dave Tungate <br /> SUBJECT: 2012 Revenue Bonds <br /> DATE: November 8, 2011 <br /> The South Bend Water Works plans to issue revenue bonds in the amount of$8.3 million. There <br /> is no rate increase associated with this bond issue. A revenue bond from 1997 will be paid off in <br /> January 2012. We plan to use the money dedicated to the principal and interest payment for the <br /> 1997 bonds to pay for the new revenue bonds. There will be no rate increase necessary to pay for <br /> this revenue bond. <br /> The 2012 bond projects can be divided into three categories. One category is distribution system <br /> improvements. These projects will include water main extensions from our water system master <br /> plan, which will allow us to more efficiently move water through our water system. A second <br /> category includes equipment purchases such as automated meter reading water meters, a hydra <br /> excavation truck, and upgraded site security equipment. The third category is an upgrade to the <br /> water treatment capacity at the Pinhook Filtration Plant. This treatment plant has the <br /> infrastructure to produce additional water with minor upgrades. Additional water production <br /> from Pinhook will allow us to be more flexible with our water production facilities. <br /> Filr!NOV ler ' Office <br /> 06 m i <br /> JOHN VOORC?E <br /> MY CLERK,SOUTH SEND,IN <br />