►
Description
Public Water and Wastewater system infrastructure task force
Live Stream provided by LRC Staff
B
Senator
smith
senator
at
home.
B
A
B
A
All
right,
I
want
to
thank
the
members
of
the
kentucky
infrastructure
authority
and
the
presenters
here
today.
Obviously,
one
of
the
biggest
issues
we
have
with
this
task
force
is
figuring
out
how
to
fund
improvements
to
these
water
and
wastewater
systems,
and
so
the
staff
and
I
were
very
interested
in
seeing
what
type
of
possibilities
that
were
out
there
for
municipalities
and
counties
struggling
with
repairing
their
water
and
wastewater
system.
So
I
want
to
thank
you
all
for
appearing
here
today
and
I'll.
Let
you
begin
your
presentation.
D
Okay,
thank
you,
mr
chairman.
My
name
is
linda
brittwell.
I'm,
the
deputy
executive
director
of
the
kentucky
infrastructure
authority
with
me
today
is
bill.
Pauley
he's
our
staff
advisor
and
and
sandy
williams
is
from
the
office
of
financial
management.
It's
also
making
a
presentation
we're
going
to
tag
team
this
a
little
bit
today.
So
you
give
me
a
second
to
share
my
screen
and
I
will
bring
up
the
presentation.
Can
everybody
hear
me?
Okay,.
D
D
D
That,
okay,
so
just
to
give
you
an
overview,
a
reminder
of
the
kentucky
infrastructure
authority.
We
our
job,
is
to
help
the
citizens
of
the
commonwealth
through
providing
subsidized,
low-interest
loans
to
public
entities,
primarily
water
and
wastewater
entities
and
their
primary
purposes
for
capital
infrastructure.
We
have
11
board
members.
There
are
five
ex-officio
members
that
are
members
of
our
board
based
on
their
positions
that
they
hold
within
state
government,
and
then
there
are
six
that
are
appointed
by
the
governor
on
staggered
terms.
D
In
addition
to
the
board,
we
have
a
staff
of
16
employees
and
also
we
have
a
very,
very
valuable
partnership
with
the
15
independent
contractors
of
the
period
development
district.
If
you
all
recall
the
area
development
districts
help
us
through
the
management
of
the
water
management
councils
that
are
required
under
a
state
law
tip
for
each
district
to
have.
They
are
representatives
of
water
and
wastewater
utilities
and
county
and
city
government
officials.
D
The
primary
goal
of
those
water
management
councils
is
to
look
at
priorities
for
infrastructure
funding
and
moving
those
forward
to
help
stay
in
contact
with
the
utilities
over
the
course
of
the
years
and
just
making
sure
and
then
also
the
big
thing
for
us
is
the
management
of
the
water
and
wastewater
assets
in
the
geospatial
or
the
gis
system.
The
geospatial
information
system,
the
kentucky
infrastructure
authority,
is
required
and
charged
by
the
legislature
to
have
built
and
maintained
this
water
resource
information
system.
D
D
It
has
helped
us
tremendously
on
planning
and
looking
at
the
needs
in
the
state
and
the
area.
Development
districts
in
addition
to
managing
the
water
management
councils,
also
through
their
contract
with
us,
maintain
help
maintain
that
system
by
going
and
visiting
every
single
utility
to
look
at
what
has
been
updated.
What
has
been
replaced?
D
D
In
addition,
the
staff
helps
with
the
issuance
of
bonds
and
any
water
asset
management.
We
do
have
the
geospatial
information
system
has
we
have
three
folks
on
staff
that
help
maintain
that
as
well
just
to
talk
a
little
bit
about
what's
going
on
today,
we
are
looking
at
a
number
of
challenges
with
cobin
and
our
responses.
D
B
D
Moved
all
of
our
storage
to
electronic
prior
to
this,
but
also
now
all
of
our
document
submissions
are
electronic.
We've
gone
through
some
digital
signature
procedures
that
are
allowing
us
to
function
completely
remotely
and
work
with
the
utilities
and
the
ads
remotely.
Our
board
meetings
are
currently
being
held
via
via
zoom
the
board.
Babies
are
available
to
you
live,
and
by
going
into
the
website,
we
are
meeting
with
the
utilities
on
a
regular
basis
through
the
water
management
council
and
through
the
individual
borrowers
again
remotely.
D
This
has
been
a
tremendous
help
to
us.
I
think
it's
been
a
little
bit
of
a
struggle
over
the
years,
sometimes
with
borrowers
that
are
having
to
come
from
far
eastern
kentucky
for
western
kentucky
that
this
has
really
provided
a
new
resource
and
a
new
tool
for
us
to
use
on
reaching
everyone
across
the
state.
D
We
do
have
a
few
grants
that
are
available
in
the
state
of
kentucky.
The
kentucky
infrastructure
authority
itself
is
looking
at
a
small
and
disadvantaged
community
water
system
grant
through
the
epa
at
698
thousand
dollars.
It's
a
fairly
small.
It's
new.
We
don't
know
whether
it's
a
one-time
deal,
but
we
are
exploring
every
option
that
comes
through
the
epa.
In
addition
to
that,
the
kentucky
department
for
local
government
provides
a
number
of
grant
opportunities
through
the
appalachian
regional
commission.
D
They
have
both
area
development
in
the
distress
county's
infrastructure
grant
program.
The
community
development
block
grants
are
also
administered
through
the
kentucky
department
for
local
government.
So
those
are
opportunities,
although
they
are
not
nearly
as
big
as
the
needs
across
the
state.
There
are
some
opportunities
for
grants
still
out
there
heard
me.
D
I
don't
know
what
I
did
there.
Let's
keep
moving
on
so
the
grants.
There
are
some
grants
through
the
energy
and
environment
cabinets.
The
amazing
mines
lands
the
waterline
grant
program
through
the
abandoned
mine
lands.
That's
a
program,
that's
administered
primarily
for
communities
and
households
whose
drinking
water
has
been
affected
through
previous
coal
mining
activities.
D
D
In
addition
to
that,
the
epa
has
a
couple
of
programs
that
run
grants
through
the
public,
clean
water,
section
319,
that's
the
non-source
point
pollution
program
and
then
also
the
brownfields
program.
It's
not
specific
for
aml,
that's
just
for
any
assessment
or
revitalization,
revitalization
of
a
brownfield
or
contaminated
land
area.
D
D
If
they
are
doing
a
project
that
is
affecting
utilities,
we
can
look
at
partnering
with
them
on
the
grants,
the
u.s
army
corps
of
engineers
and
then
also
the
delta
regional
authority.
That's
run
through
the
department
for
local
governments
as
well
for
our
utilities
out
in
the
western
end
of
the
state.
D
I
did
it
again,
okay,
so
loans
and
that's
what
we
do
primarily
as
a
business
of
the
kentucky
infrastructure
authority.
We
are
looking
in
addition
to
us.
There
are
a
number
of
other
loan
programs.
The
euro
usda
or
the
the
usc
epa
has
some
direct
loan
programs,
the
water
infrastructure,
finance
and
innovation
act,
which
is
allowing
for
loan
programs
through
the
federal
government
through
the
uscpa
and
I'll
talk
a
little
bit
more
about
that.
The
brownfields
also
offer
some
loan
programs,
the
national
rural,
rural,
water,
association
or
locally.
D
The
kentucky
rural
water
association
through
their
finance
arm
have
a
loan
program
generally
for
short-term
financing,
but
they
do
have
some
other
opportunities
there,
then
the
rcap
or
the
rural
community
assistance
partnership.
That's
part
of
the
rural
development
program,
then
the
kentucky
association
of
counties
has
a
loan
program
as
well.
D
For
the
water
infrastructure
and
finance
water,
infrastructure,
finance
and
innovation
act
through
the
u.s
epa,
some
of
you
all
may
have
heard
about
this
recently.
They
have
been
up
and
running
through
it
since
2014,
but
in
july
of
this
year
they
announced
an
additional
six
billion
dollars
of
funding.
D
Now
what
they're,
looking
at
through
the
federal
government,
is
a
minimum
project
funding
of
20
million
dollars.
They
are,
they
can
loan
to
an
individual
agency
or
a
financing
agency
for
an
individual
they're.
Looking
at
projects
that
are
regionally
significant,
the
uscpa
through
the
wifi
program
is
looking
at
49
project
funding.
Loan
51
must
be
through
other
four
sources,
although
the
other
source
can
be
the
state
revolving
fund
through
the
political
agency
such
as
the
kia.
D
D
It
are
equal
to
the
treasury
at
the
time
of
the
closing,
so
the
grants
and
loans
through
the
rural
development,
the
loan
terms
for
rd
generally,
are
up
to
40
years
right
now
they
have
dropped
their
interest
rates
down
from
rural
development
down
to
1.875
percent
at
a
market
rate,
they
do
have
some
intermediate
loans
on
one
point:
five
percent
and
a
poverty
level
at
one
point,
one
two,
five
percent
I'll
be
honest:
rd-
does
have
quite
a
bit
more
grant
money
available
to
them
as
part
of
their
loan
program.
D
In
the
past
few
years,
their
interest
rates
have
been
slightly
higher
than
kia,
so
we
certainly
understand
and
respect
our
borrowers
looking
at
all
their
options
for
what's
the
most
cost
effective
for
their
communities
and
the
feasibility
for
their
communities.
Of
course,
the
r
d
l
state
office
is
in
the
in
lexington
hilde
leg.
If
you
know
hilda
is
the
state
director,
she
does
a
fantastic
job
with
her
team.
The
area
that
covers
frankfort
particularly,
is
the
office
in
sheppartonville
with
greg
pridenmore.
D
So
we
work
with
the
rd
folks
across
the
state
on
a
number
of
different
projects.
Give
you
a
little
more
information
about
the
kia
and
historical
funding.
I'm
not
sure
that
everyone
is
fully
aware
of
the
size
of
the
kia.
Over
the
years,
we've
provided
almost
2
billion
of
funding
for
approximately
550
projects,
wastewater
projects
and
water
projects,
in
addition
to
that
572
million
for
approximately
250
drinking
water
projects,
159
million
for
infrastructure
loans
and
123
million
in
government
agency
loans,
and
these
are
the
last
two-
are
state-funded
programs
that
we
operate
as
well.
D
B
D
Our
current
funding
that's
available
for
2021,
which
is
our
current
fiscal
year
that
we
started
july
1st.
We
have
98
million
dollars
available
for
wastewater,
and
our
stormwater
fund
of
that
20
million
dollars
is
part
of
the
capitalization
grant
coming
from
the
epa.
The
rest
of
it
is
coming
through
either
repayments
or
commitments
that
have
been
made
previously
that
have
gone
unused
this
year.
In
addition
to
that,
we
have
67
million
dollars
available
to
loan
for
drinking
out
of
our
drinking
water
fund,
which
is
separate
again.
The
epa
grant
this
year
is
18
million
dollars.
D
The
rest
of
it
is
coming
through
repayments.
Part
of
that
is
just
because
the
drinking
water
loan
program
is
not
as
old
as
the
clean
water
program,
so
the
repayments
just
aren't
as
high.
Yet
out
of
the
infrastructure
fund.
Right
now
we
have
about
a
million
dollars
left
in
this
fiscal
year.
We
have
committed
significantly
it's
purely
a
first-come,
first-served
basis
and
then
into
the
government
agencies
fund
we're
under
a
million
dollars
available
to
us.
Our
loan
payments
repayments
are
made
twice
a
year,
they're
semi-annual.
D
D
So
we're
really
looking
at
the
priorities
of
the
state
and
the
guidance
and
that
what
we're
trying
to
do
with
helping
utilities
across
the
state
for
the
clean
water
program,
you
can
actually
take
a
project
out
of
order
under
the
epa
rules
for
the
program
for
drinking
water.
You
cannot
once
the
projects
are
ranked
they
have
to
go
in
that
order
and
the
clean
waters
is
primarily,
projects
are
taken
out
of
order.
Only.
D
A
project
of
high
significance
or
priority
for
the
states
that,
for
whatever
reason,
might
not
have
ranked
as
high.
Obviously,
if
you're
looking
at
your
priority
rankings,
they
should
match
up
with
what
your
policy
issues
are
and
your
ranking
should
be
fairly
close
and
that's
what
happens
with
us
each
year.
D
Our
program
stays
pretty
close
to
the
priority
list.
Sometimes,
if
we
have
a
small
program
or
a
small
project
and
a
small
amount
of
dollars
left,
we
will
look
at
skipping
down
a
project,
but
for
the
most
part
they
go
strictly
in
the
order
that
they're
ranked
again
in
drinking
water.
The
projects
are
ranked
by
the
division
of
water
they're,
based
on
the
priority
guidance,
that's
published
every
year,
so
the
utilities
know
what
we're
looking
for.
D
B
D
D
That
means
that
if
a
community
comes
in
and
they
qualify
and
they
are
ranked
in
a
certain
where
they
would
be
getting
the
loan
they
are
allowed
to,
if
their
mhi
is
up
below
80,
we
can
provide
principal
forgiveness
for
50
up
to
a
million
dollars
on
new
construction
loans,
in
addition
that,
even
if
they
for
whatever
reason,
because
we
only
have
a
small
amount,
they
were
not
able
to
get
principles
for
units.
In
addition
to
that,
our
standard
interest
rate
currently
is
well,
it
was
2.5,
we've
dropped
it.
D
D
Just
to
give
you
an
idea,
though,
of
the
98
million
dollars
sounds
like
a
lot
of
money.
67
million
dollars
sounds
like
a
lot
of
money
for
drinking
water,
but
I
hope
everybody
on
this
task
force
understands
that's
not
nearly
enough
for
what
we're
facing
as
a
state
across
across
the
commonwealth
on
infrastructure
needs.
D
We
asked,
as
part
of
it,
looks
like
early
during
the
coven
situation.
We
asked
back
in
the
spring
the
ad
districts
as
part
of
their
water
management
councils,
to
reach
out
to
the
utilities
and
just
say:
hey:
if
you
had
what
other
infrastructure
projects
do
you
have
that
you
could
be
ready
to
move
forward
within
the
next
two
years?
D
If
there
was
an
opportunity
for
some
additional
funding
through
the
federal
government,
we
had
a
reply
of
over
a
thousand
wastewater
projects,
estimated
at
80
to
892
million
dollars,
475
drinking
water
projects,
estimated
at
475
million.
Now
again,
does
this
mean
that
all
of
the
systems
are
going
to
fail
tomorrow
without
that?
No
absolutely
not,
but
when
we
talk
to
them
about
what
their
needs
are
the
short-term
needs.
This
isn't
something
that
needs
to
be
done
in
the
next
20
years.
This
is
something
that
they
are
looking
at.
D
Looking
at
the
trends
and
based
on
the
current
kia
payment
to
repayment
for
or
is
projected
for
december,
so
right
now,
under
five
borrowers
have
been
struggling
with
payments
out
of
the
490
outstanding
loans
that
we
have.
So
our
borrowers
are
very
attentive
to
paying
back
the
loans
we
work
with
them
on
what
their
rates
need
to
be
to
be
financially
financially
viable,
not
just
for
paying
off
the
loans
but
to
make
sure
they're
maintaining
the
systems
as
they
need
to
over
the
years
and
needing
the
operating
requirement.
D
D
Just
as
we
know
that
cobit
19
price
is
ongoing
and
that
the
citizens
aren't
having
problems
if
they're
having
problems
paying
their
bills,
then
the
utilities
have
problems
having
with
enough
revenue
and
then
they're.
Looking
at
what
other
changes
they
need
to
make
so
moving
forward.
Our
questions
and
expectations.
D
Will
there
be
a
federal,
additional
federal
assistance
when
we
made
the
request
in
the
spring,
we
were
hearing
out
of
washington
that
there
would
be
some
additional
federal
assistance
that
might
help
with
the
economy
on
the
infrastructure,
similar
to
what
happened
during
the
2007-2019
period
to
date.
That
has
not
materialized.
D
That
may
still
come
forward
at
a
future
date,
but
that's
obviously
a
big
question
as
part
of
our
infrastructure
portfolio
also,
will
there
be
additional
funding
options
available
locally?
Are
there
other
things?
Are
there
other
opportunities
for
the
local
and
then
we're
monitoring
the
code,
19
impacts
of
utility
revenues
and
payments?
B
B
I
would
like
to
note,
though,
at
the
dlc
we
have
had
some
companies
called
and
the
municipal
water
lines
are
missing.
Some
payments
now
and
they're
wondering
what's
going
to
happen.
B
A
C
Yes,
mr
chairman,
thank
you
a
couple.
If
you'll
indulge
me,
mr
bridwell,
you
know
it's
a
privilege
being
on
this
task
force.
I
served
with
several
people
on
this
task
force
from
the
eastern
kentucky
communities
who
may
be
facing
declining
populations,
higher
unemployment
rates,
higher
higher
tax
rates
and
looking
over
your
slides
here,
has
kia
considered
removing
the
cap
of
50
up
to
1
million
on
more
expensive
compliance
related
construction
projects.
I
know
we
talked
about.
C
You
know
the
federal
priority
being
compliance,
and
I
just
I
in
talking
with
some
of
my
water
districts.
I
worry
that
they
will
not
be
able
to
afford
some
of
these
projects,
and
you
know
extending
the
cap
would
help
them
tremendously.
D
To
be
honest
with
you
representative,
we
have
not
to
date,
the
federal
guidelines
restrict
how
much
that
we
are
able
to
use
out
of
subsidy
subsidization
out
of
the
cap.
Grant.
D
That's,
certainly
something
that
we
can
take
back
to
the
board,
to
look
at,
obviously
the
more
that
we
are
subsidizing,
the
less
we
have
available
to
loan
back
out
and
revolve
the
funds
around,
but
we
are
certainly
willing
to
bring
it
back
up
with
the
board
and
look
out
of
the
repayment
funds
if
there's
an
opportunity
to
provide
additional
cap
honey
on
it
or
a
principal
forgiveness.
Out
of
that.
C
Sure
sure
and
one
other
question
if
you'll
indulge
me,
another
focus
that
we
had
you
know
last
year
was
performance
benchmarks
and
you
know
in
working
with
with
kia
in
the
past.
I
know
we
had
several
discussions
on
this
task
force
about
technical,
financial
and
performance
benchmarks
being
put
in
place
to
making
sure
that
you
know
if
we
are
issuing
grants
to
these
water
districts
that
they're
being
used
for
for
what
they
are
intended
to,
and
it's
not
so
much.
C
You
know
literally
a
leaking
leaky
bucket,
so
to
speak,
but
what
benchmarks
would
ki
suggest
being
considered
if
we
brought
this
back
up
in
this
task
force.
D
Well,
the
first
one
is
the
financial
performance
and
that
that's
one
that
I
think
everybody
on
the
task
force.
I
I
hope
is
aware
of,
and
as
you
just
mentioned,
I
mean
each.
Each
utility
has
its
own
challenges
as
we
work
through
auditing,
each
utility
or
each
borrower
provides
their
audit
to
us
every
single
year.
We
do
look
through
those.
We
look
at
whether
they're
in
compliance
with
the
loans,
not
just
when
they're
coming
in
and
applying
for
a
loan
but
ongoing,
and
one
of
the
things
that
we're
looking
at
is
really.
D
D
What
can
we
do
to
help
them,
and-
and
is
it
something
that
I
I
think
that
whether
or
not
the
task
force
wants
to
take
up
on
on
providing
some
authority,
whether
it's
within
the
division
of
water?
I
know
the
psc
has
their
ability
to
look
at
it,
but
for
other
utilities,
whether
it's
something
they
need
to
be
looking
for,
and
I
know
I
saw
jerry
unmute
himself
and
I'm
hoping
that
he's
going
to
talk
a
little
bit
more
about.
D
If,
if
you
all
would
indulge
him,
we
are
working
with
the
division
of
water
on
the
technical
managerial
capacity
with
utilities
and
what
kind
of
performance
benchmarks
that
we're
looking
at
for
those
and
we're
working
through
re-drafting,
or,
I
guess,
editing
the
requirements
there
so
jory.
Do
you
want
to
add
anything
on
that.
B
D
F
To
put
you
on
the
spot,
oh
well,
that's
all
right
yeah!
So
I
mean
I
think
that
linda's
right
I
mean.
The
good
thing
we
have
with
regard
to
the
borrowers
from
the
revolving
fund
is
that
we
do
have
expectation
levels
like
the
debt
to
income
ratio
and
things
like
that
that
help
keep
the
utilities
on
track
and
make
sure
that
they
are
solvent
when
it
comes
to
borrowing
the
money.
F
I
think
an
ongoing
challenge
is
for
making
sure
that
utilities
that
aren't
borrowers
of
the
fund
that
we
try
to
get
a
handle
on
helping
to
direct
and
make
sure
that
they
are
healthy
financially,
and
that
has
not
been
a
angle
or
it
has
not
been
an
aspect
of
utility
management
or
regulation
by
division
of
water.
That's
not
something
that
we
have
directly
focused
on
in
pastimes.
F
F
You
know
how
we
go
about
assisting
facilities
that
are
either
currently
lacking
capacity
or
who
may
be
dangerously
close
to
lacking
capacity
where
the
next
technical
disaster,
if
you
will
or
the
next
ice
storm
or
a
problem,
you
know
knocks
them
into
a
non-component
situation.
I
mean
it's
trying
to
find
ways
to
prevent
that,
so
I
mean
I
can
say
definitively
as
yeah.
We
have.
We
have
definitely
continued
to
look
at
that
with
kia
and
and
ultimately
with
you
know,
particularly
again
at
those
facilities
that
are
not
borrowers.
F
Okay,
the
the
larger
regulated
universe
under
the
safe
drinking
water.
I
can't
even
just
half
degree
out
of
the
clean
water
act,
although
planning
occurs
somewhat
differently
for
those
two
types
of
utilities.
So
it's
certainly
something
that
I
picked
up
on
as
an
observer
of
the
last
task
force
and
something
we're
going
to
focus
on
and
as
well
as
I
think
linda
mentioned.
F
I
think,
as
we
look
forward
to
the
22
funding
cycle
and
creating
the
pro
the
criteria
that
linda
was
talking
about
with
regard
to
prioritization
we're
looking
at
looking
at
at
the
aging
infrastructure
and
the
existing
infrastructure
as
a
focal
point,
and
perhaps
having
more
points
awarded
to
those
facilities
that
do
rehabilitation
type
work
so
linda.
I
hope
that
helped
you
out
and
not
having
anything
prepared
here.
B
D
C
On
that
as
well,
thank
you
all
so
much
jumping
back
real,
quick
and
one
last
question
and
I'll
get
out
of
your
hair.
Based
on
these
benchmarks.
Let's
say
we
work
something
out
that
everybody
can
agree
to
would
ke
kia
be
willing
to
look
at
maybe
principal
forgiveness,
on
on
meeting
these.
These
benchmarks
is
that
something
we
could
look
at.
D
Oh,
I
think
absolutely
I
mean
we
would
love
to
have
an
opportunity
to
further
reward
satan,
so
to
speak,
I
mean
it's
amazing.
What
incentive
it
is
when
you
get
an
opportunity
for
principal
forgiveness,
and
so
you
know
anytime,
that
we
can
reward
utilities
that
are
doing
what
they're
supposed
to
be
doing
financially
technically
managerial.
B
E
E
E
So
most
often
those
municipal
loans
are
issued
on
a
tax-exempt
basis
for
a
20-year
term
and
they
did
require
a
credit
rating,
so
that
would
be
obtained
from
moody's,
s
p
and
fetch
and
how
they
rate
revenue
bonds.
They
look
at
the
strength
of
the
underlying
rate
payers
and
they
look
at
factors
like
the
total
number
of
residential
customers
or
the
strength
of
the
industrial
customers
that
make
up
that
customer
mix.
They
also
take
into
consideration
the
amount
of
debt
that
utility
or
municipality
intends
to
issue
in
the
relatively
near
future
revenue
bonds.
E
E
Typically
go
bonds,
don't
have
restrictive
covenants,
they
are
issued
on
a
tax-exempt
basis
for
a
20-year
term,
and
they
also
require
a
credit
rating
moody's.
S
p
and
fetch
rate,
the
g.o
bonds
on
the
strength
of
the
municipality,
and
they
look
at
factors
like
budgetary
performance,
budgetary
flexibility,
liquidity
and
the
amount
of
outstanding
debt
and
contingent
liabilities.
E
E
E
E
When
local
municipal
bonds
are
issued,
the
department
for
local
government
may
be
involved
in
the
approval
process,
depending
on
who
the
issuer
is
and
looking
at
bond
counsel.
They
represent
the
issuer
and
they
assure
compliance
with
tax
law
and
the
underwriters
council
represents
the
underwriter
and
they
assure
compliance
with
the
securities
laws.
E
Bond
insurers
may
be
used
just
depending
upon
market
conditions
and
again
the
rating
analyst
with
one
of
the
three
rating
agencies
would
need
to
be
involved
and
then
financial
advisors
are
used
when
bonds
are
competitively
bid
and
then
finally,
the
trustee
represents
the
interest
of
the
bond
holders
and
make
sure
that
all
of
the
payments
get
made.
E
There
may
not
be
enough
funds
available
from
less
expensive
sources,
so
the
sources
that
linda
talked
about
through
subsidies
that
are
offered
or
principal
forgiveness,
the
the
ultimate
cost
of
capital,
is
less
than
going
through
and
issuing
open
market
securities.
E
Those
are
my
prepared
comments
for
today.
Thank
you
for
your
time
and
attention
and
I
would
be
happy
to
try
and
answer
any
questions.
A
A
D
Place
to
go
first,
I
would
say
well,
first
of
all,
they
need
to
look
at.
Do
they
have
their
audits
up
to
date,
because
I
don't
think
any
of
us
are
able
to
not
not
our
cap,
not
rd,
not
the
the
ka
nobody's
gonna
be
able
to
talk
to
them
or
work
with
them
a
whole
lot
if
they
don't
have
their
audits
at
least
up
to
date.
They
may
not
like
the
picture
that
it
shows,
but
that's
certainly
something
that
we
are
trying
to
emphasize
with
our
borrowers
across
the
state.
D
There
are
some
assistance
programs.
I
know
the
rural
water
team
is
really
good
at
at
helping
find
the
best
solutions,
whether
it
be
through
us
or
rd
they.
Certainly,
those
are
probably
the
two
primary
focus,
but
certainly
if
someone
is
interested
as
sandy
talked
about,
if
you're
a
rural
community
and
bonds
may
not
be,
the
individual
bonds
may
not
be
the
best
way
to
go,
but
there
may
be
some
opportunity:
you've
got
to
bundle
on
through
another
program,
so
probably
what
they
need
to
do
is
reach
out
to
one
of
us.
D
They
either
need
to
reach
out
to
the
kia
or
reach
out
to
the
rural
development
team
and
let
them
start
working
with
the
utility.
The
public
service
commission
also
has
some
resources
that
they
can
help
them
on.
Okay.
How
do
your
financials
look?
I
know
that
scares
a
lot
of
the
water
districts,
but
the
team
at
the
public
service
commission
is
also
their
goal,
is
to
make
sure
the
citizens
of
the
commonwealth
have
adequate
utilities
and-
and
that's
what
we're
all
here
to
do
so,
but
certainly
they
can
contact
us.
D
A
Okay,
I
guess
if
no
one
else
has
any
questions
today.
Thank
you
very
much
for
the
information.
It
was
very
enlightening
on
the
various
funding
sources
that
are
available
to
to
accomplish
some
of
these
goals,
of
providing
clean
water
and
a
clean
environment
to
the
citizens
throughout
our
commonwealth,
and
I
want
to
thank
you
all
for
taking
your
time
to
to
put
together
these
presentations
and
to
be
here
with
us
today,
so
unless
anybody
else
has
any
questions.
The
second
meeting
of
the
task
force
on
the
water
wastewater
systems
is
adjourned.