SUBJECT: Capital Projects from the Debt Retirement and Construction Fund
Each year in May, the Board approves the lists of proposed capital maintenance, other equipment, and electronic technology equipment from the Debt Retirement and Construction (DR&C) Fund. This year's lists are attached and will be funded from current year (FY04) DR&C Fund revenues.
A five-year history of the DR&C fund and the projected financial results for the DR&C Fund showing the proposed expenditures for FY05 funded by revenues from FY04 is attached.
President Farley recommends approval of the projects and equipment for FY 2005 funded by FY 2004 DRC revenues as detailed in the attachments.
(date) Jerry B. Farley, President