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THURSDAY, APRIL 29. 1999 <br /> <br />sales only aeter that same date. Vice-Mayor Teague then asked about the recent American Electric Power <br /> <br />rate reimbursement check received by the City, and the proposed use of this revenue. Mr. Bartlett stated that <br />$1.2 million had been received thus far, with an additional $408,000 to be received in the coming fiscal year. <br />He stated that the amount already received had not yet been appropriated, with the exception of the $356,000 <br />that had been appropriated for work on the City's Fiber Optic Loop system the prior Tuesday evening, and <br /> <br />the balance of the funds had fallen to fund balance, to be appropriated as Council saw fit in the coming fiscal <br />year. Mr. Bartlett noted that recommended uses of the funds were shown elsewhere in the proposed budget, <br />in the form of two strategic transfers and a customer rebate, all as recommended by Mr. Reynolds. Some <br /> <br />discussion then took place among Council Members on the pros and cons of the recommended uses of these <br />funds. Mr. Richardson then noted two major capital projects to be undertaken by the Electric Department in <br />the coming year. These included running underground power lines to replace overhead lines in the areas of <br />Rivermont Apartments and the KnoIIwood areas of the City, to help prevent power outages in these areas. <br /> <br />The proposed cost for this work was $250,000. Other plant expansion costs were shown budgeted at <br /> <br />$120,000. Cost of Purchased Power was shown at an increase of $200,000, and Council Member Haskell <br /> <br />asked what this cost might have been had the City not taken steps to establish a new purchase power <br /> <br />agreement through Blue Ridge Power. Mr. Richardson stated that the cost would probably have been <br /> <br />$7007000 or more. This concluded the discussion of the Electric Department budget. <br /> <br /> Mayor Crabtree then asked Council to prepare for their next meeting with the budget materials <br />provided, and provide Mr. Reynolds with their input on which outside agencies Council wished to hear from. <br />Mr. Reynolds then noted the agencies already invited to make presentations to Council. <br /> <br /> Council Member Roop then noted the dire illness of former City Manager George Brown, and <br />suggested that Council send some form of expression of well wishes. Mr. Reynolds suggested that a <br />Resolution from Council to that effect be prepared and mounted on a plaque for presentation. Council <br /> <br /> <br />