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- REGULAR P�iEETING OF THE ORONO COUNCIL, AUGUST 15, 1978 Page 22 <br /> A report concerning the Debt Service Report ANNUAL DEBT SERVICE X <br /> from Ehlers & Associates on the asterisk agenda REPORT <br /> from Tom Kuehn, Finance Director, dated July 31, <br /> 1978, states: <br /> The enclosed report from Mr. Chenoweth of Ehlers <br />� and Associates updates the situation regarding the <br /> bonded debt of the City and the means by which we <br /> will pay that debt. I need only �ake a few brief <br /> comments as Mr. Chenoweth's letter is basically <br /> self-explanatory. <br /> As t2r. Chenoweth states , the on�y differencA <br /> between Exhibit 3 and Exhibit 3. 1 is a larger <br /> beginning fund balance in the bond redemption <br /> fund. The beginning balance in Exhibit 3 is <br /> the cash and investments at January 1, 1978 of the <br /> Sewer Debt Fund ($1, 023, 400) . In Exhibit 3. 1, <br /> an additional $97, 700 has been added to the cash <br /> and investments, bringing the beginning balance to <br /> $1, 121, 100. The additional amount is the cash <br /> and investment balances of the 1'ietro Trust Fund <br /> at January l, 1978. The second exhibit was done <br /> to show the effect of repaying the past debt <br /> service credits to the Sewer Debt Fund and does <br /> not reflect the effects of paying the future debt <br /> service credits to that fund. The future credits <br /> will add about $147, 000 to the Sewer Debt Fund. <br /> Pesek moved, Butler seconded, to accept the <br /> Annual Debt Service Report of Ehlers & Associates. <br /> P4otion, Ayes (3) - Nays (0) . <br /> Butler moved, Pesek seconded, to adopt Resolution RESOLUTION #931 <br /> #931, A Resolution To Close Out The i�Ietro Trust Metro Trust Fund <br /> Fund To The Sewer Operating Fund. Motion, Ayes (4) - <br /> Nays (0) . <br /> A report on the public hearing requirements for FEDERAL REVEUNE SHARING <br /> Revenue Sharing Funds from Tom Kuehn, Finance <br /> f Director, dated August 11, 1978, states: <br /> As you will recall, the City is required to hold <br /> two public hearings regarding Federal Revenue <br /> Sharing monies each year. The first hearing <br /> (Proposed Use Hearing) is for the purpose of <br /> obtaining citizen comments on how they think the <br /> Revenue Sharing money should be spent. The notice. <br /> of this Proposed Use Hearing must be published at <br /> least ten days prior to the date of the hearing <br /> and must indicate the date, time, and place of <br /> the hearing, the subject (s) to be discussed, and <br />� the right of the citizens to submit written and/or <br />� oral comments. (Continued) <br />� <br />� <br />; - <br />� - <br />, <br />