7
Opportunity
nCurrent level of O&M and Major Maintenance has not
been adequate to meet all
facility maintenance needs; therefore, additional funding being sought through bond
program
nBond funds provide opportunity to address many deferred
needs
nLegal restrictions on use
nNot eligible – operation, routine maintenance, repairs
or “fixes”
nEligible – Replacement, reconstruction, and
improvements
nMust be a capital project
nMust have expected useful life of at least 20 years or
life of the bonds