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#9 and #11 of Tahoe Donner, representing $40.00 per lot according to the
1970 Lakeworld-PUD Water Agreement. This included 650 lots for Unit
#9 and 517 lots for Unit #11. The purpose of the remaining amount of
$2,300.00 has not been determined. The check represented final payment
for Units #1-11 as invoiced. One of the District's invoices gave a
credit of $56,875.00 on water payments for installation of 3500 feet
of pipeline by Dart. The number of lots Dart paid for Units #5 and #7
did not agree with the number Dan Cook noted were recorded. The
discrepancy in the per lot water payments could be in the amount of
$8,000.00. There were approximately. 200 lots in Unit 5 which may not
ram► have been paid for. Mr. Strom questioned whether proper authorization
had been made in the $56,875.00 credit for the pipeline costs. He
only found a letter from the former general manager, George Cattan,
to Dart giving this credit for the pipeline. Mr. Craig asked if this
required legal research. It was not known if the Board had authorized
this action.
Director Sutton asked if Dart had paid the $40.00 per lot as the Units
were recorded. Mr. Strom stated his records showed that Dart had not
paid per agreement.
Attorney Joynt suggested checking the minutes prior to the letter
authorizing the $56,875.00 credit. He felt that the money could be
recoverable if the Board had not authorized it. Under law the
President of the Board should sign all contracts.
Director Sutton read excerpts from Cook Associates' Memo dated March
21, 1972, "George wanted us to be sure that we, Cook Associates, had
received a copy of his letter of March 9, 1972 to Lakeworld which is
the one authorizing the $56,000.00 credit; he wants to be sure that
we understand that he has the information and is responsible for
negotiating the pipe design length for the Soma Sierra Tank and that
we do not commit the District to anything other than what he states
in his letter".
Director Sutton requested Mr. Strom to present the Board a written
report on what he has determined, outlining all the information so
the Board can determine the proper action to be taken. He stated that
he would do this, and he was instructed that if he needed any facts
or had any questions about the Agreements to contact Mr. Cook or Mr.
Joynt.
Mr. Strom suggested that the Board should proceed to deposit the check
since, under the water contract itself the District has additional
funds due. Mr. Joynt noted that this action would not commit the
District.
Mr. Hobensack was informed that $46,840.00 should be deposited to a
Time Certificate Deposit as a trust account for Tahoe Donner Water.
Mr. Strom suggested the balance might be a regular service charge due
from Dart, and this could be placed in a separate TCD on an interim
basis. He suggested that Dart be contacted with reference to their
invoice numbers and asked what the amount of $2,300.00 represents.
Mr. Craig asked of the legality of withdrawing money from Time Deposits
to put in the general fund to pay bills. Attorney Joynt stated that it
can be done and was discussed and done openly by the Board. In the
Lakeworld-Dart-PUD water contract the payments of $40.00 per lot
are specified to be for providing additional source for the subdivision
and should be restricted at this time.
Arthur Young representative were thanked for their presentations and
excused from the remainder of the meeting.
APPROVAL OF MINUTES
Mr. Anderson moved that the minutes of January 9 be approved, it was
seconded by Director Waters. ROLL CALL: Waters, aye; Sutton, aye;
Anderson, aye; Craig, aye.
Director Waters moved that the minutes of January 13 be approved. The
motion was seconded by Director Sutton. ROLL CALL: Waters, aye; Sutton,
Page 2
Minutes, Feb. 10, 1975
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STATEMENT OF GENERAL FUND
Bank Balance $43,110.93
Adjustment-Checks of 12/18/74
listed incorrectly 208.56
Correct Bank Balance $43,319.49
Truckee - Electric Revenue $50,602.32
Water Revenue 4,746.12
Donner Lake - Electric Revenue 16,298.63
Miscellaneous Revenue 2,933.52
Miscellaneous Electric Revenue 21766.31
Allowances (156.02)
Approved Billings $66,497.22
Postage 300.00
Federal Tax Deposit 3,048.50
St. Brd. of Equalization 877.39
Public Employee's Ret. System 31974.05
Dept. of Benefit Payments 586.59
Workmen's Comp. Ins. Fund 689.97 ($75,973.72)
PAYROLL
1/31/75 OT DT STANDBY GROSS NET
Hobensack $985.50 $682.41
Reynolds $ 43.68 $29.12 $72.80 848.88 619.77
Lopez 21.84 72.80 793.52 548.89
Silva 11.74 15.66 779.08 595.84
Grow 698.88 528.94
Straub 698.88 454.84
Krajewski 686.26 501.48
Kirchner 160.77 608.13 409.13
Drace 28.89 593.85 422.43
Connell 523.20 369.02
Barry 487.68 378.90
Chapman 58.10 429.62 330.99
Rich 63.00 399.00 289.97
Craig 257.76 201.29
Rose 147.50 122.99 ($6,456.89)
$388.02 $44.78 $145.60 $8,937.74
Bank Balance 2/6/75 $38,079.76
BILLS FOR BOARD APPROVAL
Ace Hardware Miscellaneous $ 41.22
Addressograph Preventive maintenance
Multigraph agreement 45.74
Allied Automotive Vehicle Maintenance 25.43
Alpha Hardware Anti-freeze - rags 143.27
Alpine Business Billing cards 130.22
Amer. Public Power
Assoc. Management seminar 140.00
Anixter-Pruzan Joslyn Bracket
ovaleye bolt 11004.82
Armanko Misc. office supplies 127.27
Atlantic Richfield Gas & Diesel fuel 383.51
Auto Electric Anti-freeze 111.96
Bank of America Night Depository 10.00
Bearing Specialty Co Bearing 6.46
Bruning Division Office Equipment Rental 63.60
Builders Service
Center Galvanized Bushings 1.17
Calif. Assoc. of Group Ins. - monthly
Employers premium 645.05
Page One
Page 77
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BALANCE OF ACCOUNTS PAYABLE AFTER PAYMENTS OF FEBRUARY 11, 1975
CURRENT INV.
PREV. NO STATEMENT TOTAL
FIRM'S NAME BAL. NOVEMBER DECEMBER JANUARY REC'D YET DUE
Ace Hardware 23.99 23.99 v
tr
Allied Automotive 18.34 18.34 a4
Alpha Hardware 251.16 251.16
Anixter Pruzan 498.55 35.32 533.87
Armanko 169.63 58.87 24.32 252.82
Atlantic Richfield 1,388.84 1,388.84
Brunning Division 55.77 55.77
*Burroughs Corp. 78.17 121.40 199.57
Cal Western 624.11 624.11
AB Chance Co. 138.05 138.05
*City Linen 17.92 17.92
Crown Life Ins. 73.93 73.93
Delta 8.69 8.69
Flanigans 21.74 21.74
W.W. Grainger 110.46 110.46
Gordon Huber 75.77 75.77
Joe's Truckee Auto Repair 110.44 110.44
Joe Joynt,Attorney 349.50 887.05 1,236.55
Ken's Tire Center 109.55 3.00 112.55
Martin McDonough 736.68 958.00 1,694.68
NCR 173.25 173.25
Nevada Tank & Casing 147.18 147.18
Nevco Machinery 1,784.52 1,784.52
N. Tahoe Transit Mix 176.57 176.57
011ie's Texaco 17.15 17.15
Pacific Telephone 261.03 261.03
Pitney Bowes 109.00 36.57 145.57
RTE 21185.16 2,185.16
*Sacramento Pipe Works 18.21 18.21
Sangamo 11380.62 34.47 11415.09
Sierra Pacific 104,944.48 104,944.48
Southern Pacific Trans. Co. 28.50 28.50
Page One
Accounts Payable ...... continued
CURRENT INV.
PREV. NO STATEMENT TOTAL
BAL. NOVEMBER DECEMBER JANUARY REC'D YET DUE
*Standard Oil (58.01) 15.45 (42.56) t
Sun Printing 7.02 7.02 a
Sunrise Clinical 13.75 13.75
T & T Engineering 32.28 32.28
Teichert Aggregates 60.20 60.20
*Thornton's Garage 27.75 27.75
Tingling & Powell 30.26 30.26
Truckee Donner Disposal 22.50 22.50
U. S. Leasing 25.26 25.26
George H. Wahn Co. 21890.29 2,890.29
Water & Sewage Works 20.00 20.00
*Wedco 398.56 165.40 394.67 958.63
Western Auto Assoc. 3.26 3.26
*Western Hardware 592.10 592.10
Wilsey & Ham 200.00 200.00
TOTAL ACCOUNTS PAYABLE 84.04 398.56 5,736.70 114,512.91 2,354.99 123,087.20
*COMMENTS...........
Burroughs Corp. $78.17 Letter requesting explanation of charge sent 7/30/74, no response
City Linen 17.92 Request for explanation of charges 9/11/74, no response
Sacramento Pipe Works 18.21 Bill under question - believed to belong to Tahoe Donner
Standard Oil (58.01) Check coming from head office
Thornton's Garage 27.75 Bill under question - work not authorized
Wedco 398.56 Old charges - unable to locate at this time
165.40 3 out of 4 items broken in shipping - to be paid by Delta Lines
Western Hardware & Tool Co. 592.10 $465.68 of this amount to be billed to insurance company - taken
in robbery
Page Two
WEST RIVER- STREET BOND ASSESSMENT DISTRICT
t STATUS REPORT:
Current Time Deposit $101,408.90
Bills for Approval: See attached estimates
Dan Cook & Associates $3,980.93
Job #73512
To reimburse general fund
previously paid to D. Cook 831.63
Carlisle Graphic Printing Co.
(841.95 & 225.78) 1,067.73
Sturgis, Den-Dult, Douglas 3,250.83
9,131.12
AMOUNT OF NEW TIME DEPOSIT $92,277.78
e
i
f
J
page 79
;4
AMENDED ENGINEER'S ESTIMATE OF COST
WEST RIVER STREET ASSESSMENT DISTRICT, TRUCKEE-DONNER
PUBLIC UTILITY DISTRICT, NEVADA COUNTY, CALIFORNIA
I. ESTIMATED CONSTRUCTION COSTS
1. Connection to the Existing
System - Lump Sum $ 750 .00
2. Fire Hydrants Complete -
4 Ea. @ One Thousand Dollars
($1 ,000 .00) per Ea. 4 ,000 .00 s
3. 8" Gate Valves Complete -
4 Ea. @ Two Hundred Seventy-
Five Dollars ($275 .00) per
Ea. 1,100 .00
4. Plugs - 3 Ea. @ OneiHundred
Fifty Dollars ($150 .00) per
Ea. 450. 00
5. 8" Water Main - 3,600 L.F. @
Thirteen Dollars and Three
Cents ($13.03) per L.F. 46 ,908.00
6. 1" Water Service - Ea. @
Five Hundred Fifty Dollars
($550 . 00) per Ea. 550. 00
7. Railroad Crossing Complete 20 ,700 .00
TOTAL ESTIMATED CONSTRUCTION COSTS $ 74 ,458.00
II . PURCHASE OF CAPACITY IN EXISTING
SYSTEM AND CONTINGENCIES 13,102 .59
TOTAL ESTIMATED CONSTRUCTION COSTS
PLUS PURCHASE OF CAPACIIrY IN EXISTING
...�, SYSTEM AND CONTINGENCIES PROJECT COST $ 87 ,560.59
III . INCIDENTAL EXPENSES
1. Engineering Fee $ 8,937.63
2 . Legal Fee 2 ,662 .53
3. Out-of--Pocket Legal
Expenses 500 .00
4 . Bond Printing 800 .00
5 . Cost of Publication6 and
Miscellaneous Costs of
Proceedings 500 .00
TOTAL ESTIMATED INCIDENTAL EXPENSES 13,400. 16
TOTAL PROJECT COST PLUSAINCIDENTAL
EXPENSES $100 ,960.75
Bond Discount @ 93% of Par 7,599 .20
TOTAL ESTIMATED AMOUNT OF BOND ISSUE
AND TOTAL ESTIMATED AMObNT TO BE ASSESSED $108,559 .95
Dated: October 1, 1974 .
COOK OCIA S gineer of Work
By
AEOW
Page 79A R
TRUCKEE-DONNER PUBLIC UTILITY DISTRICT
POST OFFICE BOX 309
TRUCKEE, CALIFORNIA 95734
TELEPHONE 587-3896
Cost to connect one electrical customer from the time a customer
applies for service until he is on the books as a customer.
We allow 200 feet free for our present connection fee of $50.00.
We will allow 200 feet for this new costing breakdown.
200 feet 1/0 al triplex service wire
@ 40� per foot $ 80.00
Meter 19.00
Electrical connectors - 6 @ 63� 3.00
2 deadends - 2 wedges @ 97�, 2 spool @ 48�
2 clevices @ 36� 5.00
12 KW transformer capacity @ $10 per KW 120.00
Cut-out arrestor $30 T 4 7.00
Labor - 2 men, 2 hrs. @ 7.28 per hr. 29.00
35% overhead per man 10.00
Truck -- 2 hrs. @ 5.50 11.00
Ken to locate service attachment 12 hr.
at $7.88 per hr. 3.94
35% overhead 1.37
Candy to set-up account 1/6 hr. .77
35% overhead •27
TOTAL $290.35
Cost of labor increase (10o in 1975)
Cost of Material increase (10o in 1975) 29.00
$319.35
Warehouse cost (10%) 23.00
TOTAL 1975 Cost $342.35
Page 80
r
rE
SM
9
ART N U R YOUNG & CO
MPANY
PANY _
555 CAPITOL MALL }
SACRAMENTO, CALIFORNIA 95814 1
January 30, 1975
E
`7
i' A
a 1
Mr. Paul Hobensack
General Manager �t�,;; � ; 19i5
Truckee-Donner Public Utility District
Post Office Box 309
Truckee, California 95734 By-
Dear Paul: {
The ur ose of this letter is to summarize our discussions
P P
regarding the rate study for Truckee-Donner Public Utility District .
E
The objective of this study, as presently defined, is to analyze the
District's costs and to develop recommended interim rate adjustments .
The study scope is to include all District rate schedules, as follows. ,
I
1. Electric
Connection charges
Service charges
Domestic Service; Schedules D-1-A and D-1-B
General Service; Schedules GS-1, GS-2, and GS-3
f
2. Water
Connection charges
Service charges- Flat rates ; 4 charges
As we discussed at the Board of Director's meeting on January 9,
we believe that rate adjustments resulting from this study should be
considered as interim rates . This recommendation is based upon our
coi2clt�sion that the coat data available from the existing accounting
• January 1 1975) is inadequate for proper calculation
system tp� loz t;o Y �
of "rate of return on investment - " In addition, we understand there
i
•-.. Page 81
ARTHUR YOUNG & COMPANY
Mr. Paul Hobensack -Z- January 30, 1975
is no documentation available within the District which explains the
philosophy and basis for the existing rate structure. The interim
rates would therefore be derived on a conservative "cost recovery" T
basis plus a reasonable rate of return calculation. This approach
would result in rates that would -be relatively easy to justify to
District customers .
The District should then consider a more comprehensive rate
study; after the recommended accounting system revisions have been
implemented for, six to twelve months . The revised accounting system
should then allow for ,a more accurate calculation of plant in service
and other District investments . At that time the basic rate structure
should also be analyzed and possibly revised to assure proper alloca-
tion of costs (e.g. demand charges versus energy charges versus ,
connection charges) .
I
i
I
Our cost for the interim rate study would include fees for pro-
fessional services plus out-of-pocket expenses for travel, lodging,
per diem, etc. Our fees are based on the time actually worked at
our standard rates for the level of staff assigned . As we discussed,
it is presently very difficult to accurately predict the time and
costs required. Even a reasonable estimate is difficult to determine,
considering the present condition of the accounting and cost records .
Because of the nature of this study, our intended approach is
to assign two senior personnel on a full-time, concentrated basis .
The study will be conducted by Mr . Ronald witcosky, Sacramento office
Managing Principal and Director of Accounting and Auditing, and Mr.
Dennis A erbzck Management Services Principal . we believe this approach
will lead to the best results, in inininium time, and at louTest cost to
f
the ni.stric .
t
I
Page 81A
•
ARTHUR YOUNG & COMPANY
i
Mr. Paul Hobensack -3- January 30, 1975
r
Based on this approach, and assuming the District can provide a
reasonable amount of support through their office and management per-
sonnel, we estimate the study can be completed within about two weeks
at a cost of $4,000 to $6,000. This cost could be broken down as
follows :
r-
Electric connection rates - $1,000 to $1,500 ----
Electric domestic service rates - $11000 to $1,500
a service rates - 1 000 to $1
. Electric general s $ , ) 500
Water connection and services rates - $19000 to $1,500
i
i
Our actual hours and expenses may be lower than we have estimated
-if certain anticipated problems do not materialize. If so, we will
bill only for the actual costs incurred. If we determine, as the
study progresses, that the total cost could exceed $6,000, we will
discuss this and gain the Board's approval before proceeding.
The information presented in this letter is intended to provide
a basis for discussion with you and members of the Board of Directors . ;
We will be happy to elaborate upon our approach, costs, etc. at the
Board meeting on February 4.
i
Very truly yours,
ARTHUR YOUNG & COMPANY
E
{
By `�-
1
W. Dennis Merback
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Page 83A
i
TRUCKEE-DONNER PUBLIC UTILITY DISTRICT
POST OFFICE BOX 309
TRUCKEE, CALIFORNIA 95734
TELEPHONE 587 3896
LABOR COSTS - OVERHEAD LINES
1. 91 ea Pole excavation @$66.00 ea. $ 6,006.00
2. 91 ea Pole setting @ 83.00 ea. 7,553.00
3. 91 ea. Frame Pgles Complete 40.00 ea . 3,640.00
4. 13000 C.F. 69 KV Line @ 1.50/c.f. 19,500.00
5. 13000 C. F. 15 KV Line @ 2.00/c.f. 26,000.00
6. L. S. - Substation work and/or modification @ L.S. 3,000.00
$65,699.00
20% 13,139.80
$78,838.80
LABOR COSTS - UNDERGROUND LINES
1. 26000 C.F. 15Kv & 69KV wire
placement @ 0.50/c.f. $13,000.00
2. 78 splices 15KV & 69KV @30.00/splice 2,340.00
3. L.S.- Substation work and/or modification 6,000.00
$21,340.00
20% 4,268.00
$25,608.00
LABOR & MATERIALS TO FINISH TAHOE DONNER SUBSTATION
1. 900 L.F. - Rolled 4" ABS @ .83/L.F. 747.00
2. 2700 L.F. - 750 MCM 15KV U.G. @3462.00/M 9,347.40
3. 9 - 15KV Potheads & Misc.
Hardware @250.00 ea. 2,250.00
4. 900 L.F. - Trenching and Backfill @ 5.25/L.F. 4,725.00
5. 300 L.F. - Clearing and Grubbing @ 3.00/L.F. 900.00
$17,969.40
20% 3,593.88
$21,563.28
6. 40 working days to complete substation and do
U.G. work - 5 men @$15.00/hr. 24,000.00
$45,563.28
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69 KV LINE ESTIMATE - UNDERGROUND
1. 13000 L.F. Trenching & Select @$ 5.25/L.F. $ 68,250.00
@ 5,600.00/M 218,400.00
500 MCM - 69 KV
2. 39000 L.F. -
3. 39000 L.F. 750 MCM - 15KV @ 3,462.00/M 135,018.00
4. 6 69KV Potheads @ 1,200.00 ea. 7,200.00
5. 6 15 KV Potheads @ 400.00 ea. 2,400.00
6, 9 S & C Cutouts @ 421.00 ea. 3,789.00
7. 9 {fuses @ 240.00 ea. 2,160.00
B. 1 69KV Gang switch @ 2,919.00 ea. 2,919.00
9. 90 Splices @ 150.00 ea. 13,500.00
10. 6 0. B. Arrestors-69KV @ 562.00 ea. 3,372.00
11. 6 15 KV Arrestors @ 40.00 240.00
12. 2 15 KV KPF Switch @ 870.00 ea. 1,740.00
13. 2 15 KV Reclosers @ 2,345.00 ea. 4,690.00
$463,678.00
10% Cont. 46,367.80
$51 0,045.80
35%'eng. 178,516.03
$688,561.83
69 KV COST $312.840.00
15 KV COST $15,0,838.00
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69 KV LINE ESTIMATE - OVERHEAD
1. 91 cl. 3 - 45' poles @$ 175.00 ea. ' $ 15,925.00
2. 164 O.B. Post Insul. 69KV @ 52.80 ea. 8,659.20
3. 82 O.B. Top Insul. 69KV @ 40.74 ea. 31340.68
4. 126 O.B. 10" Bells @ 12.66 ea. 1,595.16
5. 6 O.B. Arrestors 69KV @ 562.00 ea. 3,372.00
6. 6 15 KV Arrestors @ 40.00 ea. 240.00
7. 2 15 KV KPF Switch ra 870.00 ea. 1,740.00
8. 2 15 KV Reclosers @ 2,345.00 ea. 4,690.00
9. 720 5/8" ,X 12" Mach. bolts & acc. (a 87.50/c 630.00
10. 91 8' Gr d. rods @ 13.50 ea. 1,228.50
11. 5460 L.F. 44 Bare copper @ 250.00/M 1,365.00
12. 3640 L.F. J/2" Hdwd moulding @ 55.00/M 200.20
13. 9 S & C fused cutouts 69KV @ 421.00 ea. 3,789.00
14. 9 fuses - 69KV @ 240.00 ea. 21160.00
15. 1 69KV Gang switch @ 2,919.00 ea. 2,919.00
16. 24 Fiberglass guy strain @ 12.00 ea. 288.00
17. 24 1" x 10' anchor rods @ 13.60 ea. 326.40
18. 24 Anchors 3 9.00 ea. 216.00
19. 1200 L-.F. 16M Guy wire @ 225.00/M 270.00
20. 24 Strain Plates & Lags @ 1.12 ea. 26.88
21. 39')00 L.F. 477 MCM 69KV @ 532.17/M 20r754.63
22. 39000 L.F. 477 IMCM 15 KV Hendrix @ 1,110.00/M 43,290.00
23. 42 15 KV Hendrix splices @ 4.10 ea. 172.20
24. 14 Hendrix Messenger Splice @ 8.25 ea. 115.50
82 BM 14 Hendrix straightline @ 10.50 ea. i 861.00
26- 3 BA4 - 15 Hendrix Angle @ 35.25 ea. 105.75
27. ? BD - 15 Hendrix Deadend @ 24.75 ea. 49.50
Pins, Insul. & ties @ 7.90 ea. 71.10
Deadend insul. & Acc. 9.95 ea. 119.40
$113,520.10
10% cont. 11,852.01
S130,372.11
35% eng. 45,630.24
$176,002.35
69 KV COST $ 66,913.40
15 KV COST $ 51,606.70
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FUNCTIONS OF IMPROVEMENT DISTRICT
1. To finance the expansion of the Tahoe Donner Booster System.
. 2. To finance the reconstruction of the Tahoe D.onner Power System,
E
CC
3. To finance a portion of a major new sub-station and intra.
district intertie.
4. To possibly finance the construction of adequate sources of
water.
,,,.,, Page 85
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TAHOE DONNER WATER SYSTEM
ON GOING COST EXPOSURE
(Expansion)
1975 - 1980 $25,000
1980 - 1985 659000
1985 - 1990 1009000
1990 - 1995 40,000
1995 - 2010 709000
$3009000
These figures do not include Exhibit "B" facilities or additional
wells. The figures are for the Donner Trails (Zone 4) through
Ski Run (Zone 9) .
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Page 85A
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SUMMARY OF EXTRA COST / SERVICE / YEAR
ZONE 3 CONSIDERED AS BASE SERVICE AREA
Zone Demand 00 & M Energy Total
}
7
4 (Donner Trails) 0.50 1.00 0.50 2.00
:- 5 (Soma Sierra) 0.85 1.05 1.65 3.55
6 (Innsbruck) 1.90 2.35 1.60 5.85
7 (Alder Creek) 3.60 4.25 2.20 10.05
8 (Ski Lodge) 8.75 6.25 3.00 18.00
9 (Ski Run) 14.95 8.50 3.90 27.35
(Hydros) 18.40 10.00 5.40 33.80
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' Page 85B
TRUCKEE-DONNER PUBLIC UTILITY DISTRICT
POST OFFICE BOX 309
TRUCKEE, CALIFORNIA 95734
TELEPHONE 587-3896
January 30, 1975
Mr. Joseph Q. Joynt
P. 0. Box 871
y
Tahoe City, Ca. 95730
t
Dear Joe,
Each month since I have been here the cost of fuel charge
has increased on our purchases of electricity.
If we use the same number of KWH each month, I will show
how the cost of electricity has increased above the regular rate base.
of S.P.P. Co.
r
Our rates have no provision for cost of fuel at this time.
The last time our rates were revised was, I believe, February,
1973.
The following reflect the increased cost of fuel since January,
1973:
1/19/73 .00067 x 5259000 = $ 3,523.53
11/20/74 .003188 X 5259000 = 16,765.69
12/20/74 .003309 X 5259000 = 17,402.03
1/20/75 .005629 X 5259000 = 29,602.91
2/20/75 005799 X 5259000 = 30,496.90
3/20/75 .00712 X 5259000 = 37,444.00
if we are able to P ,ass the cost of fuel on starting in Fe�ruary
we will then be able to make a proper rate determination for base rate.
Our rates should have a fuel clause in it at any rate.
S inc rely
Paul Hobensack
Manager
PH/kr
cc: Directors
M. McDonough
Page 86
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