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Director Drews said this would be his last budget presentation, <br />as he submitted his intention to retire at the end of the next <br />fiscal. year. He has included in this budget a new position of <br />Assistant Electric Utility Director and it is his hope to have <br />someone trained and ready to step into the director position or, <br />at the very .least, be of great help during the transition period. <br />Director Drews Mated he will be coming back to the City Council <br />at aidµ -year for consideration of rate increases over a five year <br />period. <br />Councilmember Beltran inquired about a bean by the Electric <br />Utility to the Redevelopment .Agency. Director Drews responded <br />that such a loan has been agreed to. The funds being borrowed, <br />$600,000 will earn interest at 4 1/2% for the the General Fund <br />and are pa.ybl.e in short length of time, . <br />Councilmember Sandoval inquired about energy conservation rebates <br />for customers purchasing new refrigerators or air conditioning <br />units. Director Drews said they have had rebates in the past; <br />however, the philosphy of the City utility is that of a win/win <br />situation. That is, the rebates to a customer must not be <br />balanced on the rest of the paying customers. Currently staff is <br />looking at energy audit programs of industrial accounts. <br />Loved by Councilmember Cook, seconded by Councilmember Cisneros, <br />to tentatively approve the Electric Utility Budget.. Unanimous <br />vote. <br />ADJOURNMENT <br />There being no further business to coxae before the Council at <br />this time, Mayor Gonzales declared the meeting adjourned at 4**00 <br />R.M. <br />3 <br />HELEN A. RAMO S , CMC <br />City Clerk <br />