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114.NX Grp '%TIR® BEACII <br />April 5, 1977 <br />William C. Wodtke, Jr. Chairman <br />Board of County Commissioners <br />Indian River County, Florida <br />RE: Bid for Short -Term Financing as <br />Advertised in The Vero Beach <br />Press Journal <br />Board of County Commissioners: <br />Regarding the above advertised bid for short-term financing, <br />First Westside Bank of Vero Beach, a Florida Banking Corporation, <br />respectfully submits an offer in the amount of $600,000.00 plus <br />interest at 4.68 per cent per annum. <br />This offer is submitted pursuant to your advertised bid which <br />indicates that the purpose of the funds is to purchase real <br />property to satisfy Land -Fill requirements; that the loan will <br />be sufficiently collateralized; and that the loan is to be re- <br />paid within one year. <br />Res ct lly your <br />Z3 <br />Charles H. Lavin <br />Vice President <br />and Cashier <br />DISCUSSION FnI_LOWED AS TO HOW LONG A PERIOD OF TIME THESE BIDS <br />WOULD HOLD GOOD AS SOME TIME IS NEEDED TO SECURE PERMISSION TO USE FEDERAL <br />REVENUE SHARING FUNDS AS COLLATERAL. MR. SANCHEZ AND MR. LAVIN BOTH <br />AGREED THEY WOULD BE GOOD FOR 30 DAYS. <br />ON MOTION BY COMMISSIONER Loy, SECONDED BY COMMISSIONER 81EBERT THE <br />BOARD UNANIMOUSLY APPROVED THE ABOVE BIDS BEING REFERRED -TO THE FINANCE <br />OFFICER IN CONSULTATION WITH THE ATTORNEY FOR EVALUATION AND BEING PLACED <br />ON THE AGENDA OF THE MEETING OF APRIL 20TH, <br />MARK FALB, PRESIDENT OF RALMAR ASSOCIATES, INC., AND DEAN LUETHJE <br />I <br />OF BEINDORF & ASSOCIATES, INC., APPEARED TO REVIEW CONSTRUCTION BIDS <br />ON THE 611%12" WATER MAINS TO SERVE THE MEDICAL ARTS CENTER. <br />ADMINISTRATOR JENNINGS STATED THAT HE HAS REVIEWED THE PLANS; <br />SPECIFICATIONS; AND BIDS WITH MR. LUETHJE AND MR; BEINDORF. <br />ATTORNEY COLLINS STATED THAT HE FELT THE COUNTY'S AGREEMENT WITH <br />RALMAR SHOULD BE DISCUSSED AT THIS TIME AS THESE MATTERS ARE INTERWOURD, <br />AND THE BOARD AGREED. HE NOTED THAT THE ONLY MAJOR CHANGE IN THE AGREE- <br />MENT IS IN PARAGRAPH 9 WHERE THE COUNTY WAS GOING TO SERVE RALMAR DIRECTLY <br />WITH WATER, BUT NOW, UNDER THE TRIPARTITE AGREEMENT, THE CITY WILL SERVICE <br />THEM INSTEAD. HIS ONLY QUESTION WAS IN REGARD TO THE EXPENSE OF CHANGING <br />14 <br />APR 61977'�t2.9 .170 <br />