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INTERGOVERNMENTAL COORDINATOR THOMAS REPORTED THAT HE HAS <br />REVIEWED THE BID SUBMITTED BY ARTHUR LEE HENDERSON FOR A TRACT OF COUNTY <br />PROPERTY 190' X 130', LOCATED SEVERAL BLOCKS NORTH OF BARBER AVENUE. <br />HE NOTED THAT MR. HENDERSON WHO OWNS ADJACENT PROPERTY, BID $1,000. BUT <br />THE ASSESSED VALUE OF THIS PROPERTY IS $4,140. MR. THOMAS STATED THAT <br />THIS PROPERTY DOES HAVE A BUILDING PROBLEM, AND FELT LOSS OF TAX INCOME <br />SHOULD BE CONSIDERED, HE RECOMMENDED, HOWEVER, THAT THE BOARD REJECT THE <br />BID AND READVERTISE. <br />DISCUSSION FOLLOWED IN REGARD TO THE FACT THAT THIS IS A LOW <br />AREA; THERE MAY BE THE NECESSITY FOR A LIFT STATION IN THIS AREA IN THE <br />FUTURE; AND SCHUMANN PARK IS LOCATED NEARBY, <br />ON MOTION BY COMMISSIONER SIEBERT, SECONDED BY COMMISSIONER Loy, <br />THE BOARD UNANIMOUSLY REJECTED THE BID OF ARTHUR LEE HENDERSON ON A TRACT <br />OF COUNTY PROPERTY DESCRIBED.ON THE TAX ROLL AS 26-32-39-00-7000-011.0, <br />THE BOARD OF COUNTY COMMISSIONERS THEREUPON RECESSED AT 12:00 <br />O'CLOCK NOON FOR LUNCH AND RECONVENED AT 1:30 O'CLOCK P.M. WITH THE SAME <br />MEMBERS PRESENT, <br />INTERGOVERNMENTAL COORDINATOR THOMAS INTRODUCED GEORGE T. BLAND <br />OF WILLIAM R. HOUGH & CO., AND ARNOLD SCHNEIDER OF THEIR ORLANDO OFFICE <br />AND INFORMED THE BOARD THAT THEY ARE HERE TODAY TO MAKE AN OFFER TO PUR- <br />CHASE THE SOLID WASTE DISPOSAL SYSTEM BONDS. <br />MR. BLAND STATED THAT LAST .JUNE THEY AGREED TO WORK WITH THE <br />STAFF IN REGARD TO THE SOLID WASTE SYSTEM WITH THE IDEA THAT WHEN THE <br />ENGINEERS CAME UP WITH A FEASIBILITY STUDY, WHICH WOULD ACTUALLY GIVE THE <br />DETAILS OF THE SOLID WASTE SYSTEM, THEY WOULD THEN PROPOSE THE PURCHASE <br />OF THE BONDS. THE ENGINEERS HAVE NOW COMPLETED THIS STUDY. MR. BLAND <br />THEN REPORTED ON RATES FOR BOND ISSUES THAT HE FELT ARE COMPARABLE TO THE <br />INDIAN RIVER COUNTY BONDS. HE STATED THAT HE HAS SELECTED BONDS IN THE <br />"BAA" AND HIGHER RATED CATEGORIES. MR, BLAND EXPLAINED THAT INDIAN RIVER <br />COUNTY DOES NOT HAVE ANY OF THEIR BONDS RATED AT THIS TIME, AND HIS COM- <br />PANY IS PROPOSING TO MAKE AN OFFER ON THESE BONDS ON THE ASSUMPTION THAT <br />THEY WILL FIT INTO A CERTAIN CATEGORY. THE LIST OF BONDS HE REPORTED <br />ON SHOWED INTEREST RATES VARYING FROM 5.30% UP TO 6.0%. MR. BLAND PRE- <br />SENTED THE BOARD WITH THE LATEST COPY OF THE BOND BUYER'S INDEX AND CON- <br />TINUED DISCUSSING RATINGS. <br />24 <br />SEP 2 11977 <br />�I <br />MGK 31 PACE 101 <br />f <br />t <br />