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• . - 189 - <br /> , Page 28 <br /> Metropolitan Council Procedure n9 - Bond Issue <br /> A. Substantive Procedure <br /> l. Adc�itional debt service of new offerings should be kept to <br /> the amount necessary to amoritize the issue over 30 years <br /> or less with even annual combined payments of principal <br /> and interest. <br /> 2 . Correlation of new debt service with outstanding debt to <br /> provide a uniform annual debt service �udget and to permit <br /> reduction of the term of new of�erings by use of the "drop- <br /> � off" of retired issues. <br /> 3 . The right of redemption should be rese?-ved to the fullest <br /> practical extent and call premiums snould be disceuraged. <br /> 4 . SubseQuent issues should be correlate� to the necessazy <br /> capital programs to provide for a qua=terly issuance and <br /> snould be combined accordingly. <br /> 5 . �ny Co�-�ci1 agency Liscal demands may be combin�d in s�se- <br /> cLen�. issues to provide for fle�ibility within the progr��s . <br /> N�et�-coolitan Council Procedure �IO - Local Com�rehensive Sewer Policv <br /> ?lan <br /> General Discussion , <br /> The Metropolitan Land Planning Act of 1976 Section 473 . 859 Section " <br /> 3 paragraph (b) reauires local gove_�ments to provide a public <br /> facility plan and in particular a Sewer Policy Plan. <br /> The requir�*nent of this act is similar to the �ietropolitan Sewer <br /> Act (MSA Sec. 47 . 3c01 et/seq. ) which requires Iocal gover;unents <br /> to submit c�mpr�hensive sewer plans describing s�werage service <br /> needs from the �IWCC_ The Metropolitan Reorganization Act fLaws <br /> 1974 Chapter a22) recruires the Council to adopt a Was`e Manage:nent <br /> (se�aerage) Policy Plan. � <br /> Part of this plan is the adoption of procedurzs which allows the <br /> Council and the Coiemission to coordinate their review requirement <br /> of these two sewer plans . This coordination is described in the <br /> � following procedure. <br /> The local se�aer policy plans and amendments to this local plan are <br /> to be submitted to the Metropolitan Council as part of the compre- <br /> hensive plan for review and comment. P_iter t�e Council ' s review <br /> and recommendations , wit'� or without comments , the local goverz- <br /> ment is to submit the adopted comprehensive sewer policy plan <br /> portions of the coiuprehensive plan to the �IWCC for aporoval. <br /> After January 1, 1981, the MWCC is not to recer.tmer.d any change <br /> in service for a local government to the Mir_nesota Pollution <br /> Control Agency unless t:�e local govern.rnent has a :�iWCC-approved - <br /> comprehensive sewer policy plan. Such plan should include the <br />