5.5. ERMUSR 11-12-2003 )-1*-
Elk River
Municipal Utilities
322 King Avenue phone: 763.441.2020
Elk River,MN 55330 Fax:-63.441.8099
November 4, 2003
To: Elk River Municipal Utilities Commission
John Dietz
Jerry Takle
James Tralle
From: Bryan Adams
Subject: Proposed 2004 Electric and Water Budget
The last three months we have been reviewing the proposed electric and water budgets in
sections. Enclosed for your review, is the completed budget with the changes we have
already discussed. The only change from our previous meeting is the incorporation of the
effects of the water revenue bonds that was approved at the October 2003 meeting. The
principal and interest payments for this bond changed due to the new bond, and
refinancing bonds 1993B and 1994D.
Staff recommend adopting this budget with the understanding that electric revenue bonds
will be sold to finance $750,000 of electric feeder construction plus the cost to relocate
electric lines for Co. Rd. 42 and 39, at the Hwy 101 interchange.