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FILED WITH THE STATE. HE INFORMED THE BOARD THAT THE BOND ISSUE MUST BE <br />ADVERTISED 21 DAYS BEFORE THE BOND HEARING, AND AFTER THE VALIDATION HEAR- <br />ING, THERE IS A 30 -DAY APPEAL PERIOD. SOMEWHERE IN THAT TIME PERIOD, THEY <br />WILL MAKE AN OFFER ON THE BONDS. <br />FINANCE OFFICER .JACKSON INQUIRED ABOUT THE TIMING OF THE BOND <br />ISSUE IN RELATION TO THE END OF OUR FISCAL YEAR, AND MR. HUSKEY ESTIMATED <br />THAT IT WOULD BE VERY CLOSE AND COULD VERY WELL GO PAST THAT DATE. <br />THE FINANCE OFFICER INFORMED THE BOARD THAT THERE ARE CERTAIN <br />PROVISIONS THAT ALLOW COUNTIES TO KEEP THEIR BOOKS OPEN BEYOND THE END OF <br />A FISCAL YEAR IN ORDER TO FINISH OUT A PARTICULAR PROJECT. <br />COMMISSIONER SIEBERT INFORMED MR, HUSKEY THAT THE ENGINEERING <br />INFORMATION SHOULD BE AVAILABLE IN A RELATIVELY SHORT TIME, AND WHEN THIS <br />INFORMATION IS AVAILABLE, HE FELT THAT HOUGH & CO. AND THE BOND COUNSEL <br />SHOULD BE INVITED TO ATTEND THE MEETING TO REVIEW IT. <br />ATTORNEY COLLINS INQUIRED ABOUT .THE GOING INTEREST RATE, AND <br />MR, HUSKEY STATED THAT THEY ARE USING AN ESTIMATED 6%, BUT CANNOT BE SURE <br />OF THIS FIGURE. HE FELT IT WOULD BE SOMEWHERE IN THAT RANGE, BUT NOTED <br />THAT INSURED BONDS GET A BETTER RATE. <br />CHAIRMAN WODTKE ASKED WHY INSURED BONDS SHOULD GET A BETTER RATE <br />THAN ONES SECURED BY NON -AD VALOREM TAX REVENUE WHICH, IN EFFECT, INSURES <br />, <br />THE BONDS, AND INTERGOVERNMENTAL COORDINATOR THOMAS SAID HE FELT THE CHAIR- <br />MAN HAD A VERY GOOD POINT, AND STATED HE WOULD HOPE THAT HOUGH & CO. WOULD <br />BE VERY INVESTIGATIVE ABOUT THE INTEREST RATE ON THE BONDS. <br />MR. HUSKEY FELT IT WOULD BE HELPFUL IF THE BOARD INDICATED THE <br />WAY THEY WISH TO PROCEED ON THE SECURITY WHICH WOULD BE OFFERED. <br />INTERGOVERNMENTAL COORDINATOR THOMAS STATED HE WOULD RECOMMEND <br />USING THE NON -AD VALOREM TAX REVENUES, AND ATTORNEY COLLINS AGREED. THE <br />BOARD HAD NO OBJECTION. <br />ADMINISTRATOR JENNINGS INFORMED THE BOARD THAT HE IS GOING TO <br />MEET WITH MR. COOLEY AND OTHER ENGINEERS OF POST, BUCKLEY, SCHUH & JERNIGAN <br />1 <br />IN FORT LAUDERDALE WITHIN A FEW DAYS, AND MR. HUSKEY STATED THAT HE WOULD ' <br />LIKE TO ACCOMPANY THE ADMINISTRATOR TO THIS MEETING. <br />COMMISSIONER SCHMUCKER INQUIRED ABOUT THE HOME RULE ORDINANCE <br />MENTIONED BY MR. HUSKEY, AND HE STATED THAT THIS ORDINANCE GIVES A COUNTY <br />t <br />A PROCEDURE TO FOLLOW SO THEY CAN HAVE A BOND ISSUE WITHOUT THE NECESSITY <br />OF GOING THROUGH THE LEGISLATURE. <br />20 <br />'JUL 61977 <br />BOOK <br />39 1PAGE 198 <br />