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ATTORNEY COLLINS INFORMED THE BOARD THAT .JOHN KELLY, BOND ATTOR. <br />NEY, HAS COME DOWN FROM .JACKSONVILLE TO DISCUSS WITH THE BOARD THE NUMEROUS <br />j FINANCING DECISIONS THAT NEED TO BE MADE ABOUT THE PROBLEMS FACING US IN <br />REGARD TO THE SANITARY LANDFILL <br />BOND ATTORNEY .JOHN F. KELLY, OF FREEMAN, RICHARDSON, WATSON, <br />BLADE, 'ICCARTHY & KELLY, APPEARED AND GAVE A BRIEF BACKGROUND OF H.IS <br />QUALIFICATIONS, STATING THAT `!E HAS BEEN A MUNICIPAL BOND ATTORNEY. FOR <br />TWENTY-TWO YEARS, HE NOTED THAT HIS FIRM REPRESENTS.THE STATE OF FLORIDA, <br />THE CITY OF VERO BEACH, PINELLAS COUNTY, THE CITY OF .JACKSONVILLE, AND ALSO <br />WALT DISNEYWORLD. <br />ATTORNEY KELLY STATED THAT THE QUICK WAY TO OBTAIN MONEY FOR THE <br />LANDFILL PURCHASE WOULD BE TO ISSUE A REVENUE AND GENERAL OBLIGATION NOTE <br />WHICH WOULD BE PAYABLE WITHIN A YEAR. <br />MONEY WOULD HAVE TO BE APPROPRIATED <br />IN NEXT YEAR S BUDGET TO TAKE CARE OF THIS. HIS FIRM WOULD IMMEDIATELY <br />PROCEED_, TO PREPARE A BOND RESOLUTION. THE PROCEEDS OF THE BONDS WOULD BE <br />11RFn TN PART OR Tw FULL TO PAY OFF THE NOTE. A RESOLUTION WOULD BE NEEDED <br />TO AUTHORIZE THE ISSUANCE OF A NOTE, WHICH COULD BE ACCOMPLISHED VERY <br />1 QUICKLY. ATTORNEY KELLY THEN DISCUSSED WITH THE BOARD THE POSSIBILITY OF <br />THEIR OBTAINING A FINANCIAL CONSULTANT AND THE FEE SUCH A CONSULTANT WOULD <br />CHARGE. <br />ATTORNEY KELLY STATED THAT HIS FIRM WOULD CHARGE A FLAT FEE OF <br />$1,000.00, PLUS EXPENSES,FOR THE PREPARATION OF THE NOTE, THIS COULD BE <br />PREPARED AND DEALT WITH BEFORE THE END OF THE MONTH, THEY WOULD THEN <br />PROCEED IN COOPERATION WITH ATTORNEY COLLINS AND ANY FINANCIAL ADVISORS TO <br />PREPARE THE BOND ISSUE, WHICH IS MORE COMPLICATED AND WOULD TAKE THREE OR <br />FOUR MONTHS. FOR THE BOND ISSUE, THEY WOULD CHARGE A FEE OF $1.50 PER <br />$1,000.00 BOND, OR A MINIMUM FEE OF $1,500.00, PLUS OUT-OF-POCKET EXPENSES. <br />ATTORNEY KELLY INFORMED THE BOARD THAT HE WOULD ISSSUE A LEGAL OPINION <br />BEFORE THE SALE OF THE BONDS. HE NOTED THAT THE FEES HE QUOTED DO NOT IN- <br />CLUDE A FEE FOR ANY WORK THAT MIGHT BE DONE IF AN APPEAL WERE TAKEN IN <br />THE VALIDATION. THEN THERE WOULD BE AN ADDITIONAL FEE. <br />i <br />APR .2 01977 <br />13 k29 Pmvk266 q <br />J <br />