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M E T R O P O L I T A N COUNCIL <br />Suite 300 Metro Square Building, St. Paul, Minnesota 55101 <br />MEMO RAN D'UM <br />TO: <br />FROM: <br />Physical Development Committee <br />July 1,1981 <br />Environmental Planning and <br />Comprehensive Planning Divisions (Norm Werner) <br />SUBJECT: MWCC Cost Allocation Study <br />Existing Debt Obligations <br />The June 25, 1981 approval by the Metropolitan Council of the <br />MWCC Capital Budget Amendments (additional secondary treatment <br />capacity and PALCO settlement), and the approval of the 1982 MWCC <br />Capital Budget (due to be submitted to the Council on August 1, <br />1981), will require the sale of Metropolitan Council bonds to <br />finance the regional share of the capital outlay. It has been nine <br />years since the Council sold bonds for sewer construction, and <br />nearly six years since the refinancing of the MWCC debt occurred._ <br />The Council staff is planning a series of presentations to the <br />Committee to provide background and to recommend approval for the <br />bond sales, development program and budget. The schedule and items <br />to be brought before the Committee are: <br />July 9 Briefing on the existing MWCC debt. <br />July 23 Alternatives for refinancing the existing debt. <br />July 30 Recommendation to the Committee regarding a ` <br />Resolution Authorizing the Sale of Bonds for the <br />MWCC. <br />August 6 Recommendation to the Committee regarding the <br />Water Quality Management Policy Plan amendments. " <br />August 4a- Recommendation to the Committee regarding the <br />MWCC Development Program - -1982 to 1986. <br />September 10 Discussion regarding the MWCC 1982 Capital <br />Budget. <br />September 17 Further discussion of the 1982 Capital Budget <br />(if necessary), and Committee recommendation. <br />_For the July 9 meeting, the staff is submitting for your review and <br />questions the debt portion of the MWCC Cost Allocation Study which <br />currently is in draft form. <br />The existing debt has been structured to permit a review and <br />refinancing (if it is determined to be advisable) in 1984 or 1985. <br />At the July 23 meeting the staff will provide information on <br />refinancing options. <br />