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Our Water General Obligation Bond covenants determine a margin by statute at 105% of bond <br />convenance. Staff proposes that we use the margin of 105% of bond convenance for water. If <br />bond convenanceis not required, then a 1.5% revenue minimum toa 2.5% revenue maximum <br />calculation be used to determine the margin. <br /> <br />The full policy is attached for reference. <br /> <br /> <br />ATTACHMENTS: <br /> ERMU Commission Policy Manual Index – Revised 8.11.2021 <br /> Proposed ERMU Policy - G.5a Margins <br />______________________________________________________________________________ <br />Page 2 of 2 <br />40 <br /> <br />