The purpose of the Revenue Bond Oversight Committee (RBOC) is to monitor the expenditure of bond proceeds that are anticipated to be issued for the repair, replacement, upgrading and expansion of the City’s water collection, power generation, water distribution and wastewater treatment facilities. The goal of the RBOC is to make certain the public dollars expended will be spent according to authorization and applicable laws. This first annual report reviews the 2004 activities of the RBOC.