6.1b ERMUSR 08-13-2019Elk River
Municipal Utilities
TO:
ERMU Commission
MEETING DATE:
August 13, 2019
SUBJECT:
Staff Update
ACTION REQUESTED:
None
UTILITIES COMMISSION MEETING
FROM:
Theresa Slominski — Finance & Office Manager
AGENDA ITEM NUMBER:
6.1b
DISCUSSION:
• Bi -annual bond payments due August 1 have been paid via wire transfers and totaled $585,296.
The bonds we have are: a water bond that will mature in 2022; one refunding of electric bonds
that will mature in 2022; the bonds from 2016 and 2018 for our Minnesota Municipal Power
Agency (MMPA) buy -in maturing in 2036 and 2048, respectively; and a share in the bond with
the City for our office buildings that will mature in 2023.
Last week Connexus sent out their first letter notifying customers that they will be transferring
to ERMU in September, and we sent our letter this week with a Frequently Asked Questions
sheet, some CIP materials, and LED coupons.
Assessment letters will start to go out in chunks as the August billings come due in the four
billing cycles. The first batch will start the third week of August and the last batch will be sent
the third week of September. These notices are for assessments of sewer, water, trash, and
applicable electric outstanding balances (there are only some electric instances that can be
assessed). Any of these noticed customers with remaining outstanding balances in October will
be assessed in November.
We are in the testing mode for our billing system in preparation for the new city sales tax to be
implemented in October.
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