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a MR. COOLEY EXPLAINED THAT IN APIRIVING AT THE PROPOSED RATE'SCHEDULE, IT WAS NECESSARY.TO DETERMINE THE COSTS;INVOLVED,"AT THE LANDFILL - THE: PERSONNEL REQUIRED, THE EQPIPMENT BEiNG.USED AND ITS OPERATING COST, AND IN ADDITION TAKE INTO CONSIDERATION THE BOND RETIREMENT REQUIRE- MENTS AND THE DEBT SERVICE, ALL OF WHICH CAME TO A TOTAL ESTIMATED COST OF APPROXIMATELY $337,000. MR. COOLEY NOTED THAT COSTS AT THE OLD LANDFILL WERE APPROXIMATELY $120,000, AND, ACCORDING TO THEIR ESTIMA- TION, IT WILL COST THE COUNTY APPROXIMATELY 2-1I2`TIMES AS MUCH TO OPERATE THE NEW LANDFILL. MR. COOLEY THEN REVIEWED THE PROPOSED LAND- FILL FEE SCHEDULE AND STATED THEY EXPECT THESE CHARGES TO GENERATE AROUND $375,000. HE RECOMMENDED THAT.ANY MONIES GENERATED IN EXCESS OF,COSTS BE PUT INTO THE CAPITAL IMPROVEMENT FUND FOR FUTURE CONSTRUC- TION OF THE FACILITY.- ARNOLD SCHNEIDER OF WILLIAM R. HOUGH & CO., COUNTY BOND CON- SULTANTS, STATED THAT THEY WERE ASKED BY THE COUNTY TO DEVELOP A FINANCING PLAN FOR THE 1,815,000 BOND ISSUE ($1,212,000 CONSTRUCTION COSTS AND THE REST FOR DEBT SERVICE, OPERATION, ETC.) HE STATED THAT THE BOND ISSUE RUNS TO 1994 AND THE INTEREST IS ABOUT 5.4%. THE PRINCIPAL IS GUARANTEED BY REVENUES AND GUARANTEED ENTITLEMENT.FUNDS. HE INFORMED THE.BOARD THAT STANDARD & POOR GAVE THE BONDS AN "A" RATING: MR. SCHNEIDER NOTED THAT THE BOND ORDINANCE REQUIRES THAT RATES BE MAIN- TAINED TO PROVIDE 100% OF THE COST OF OPERATING THE LANDFILL SYSTEM, AND'THE DEBT SERVICE MUST BE COVERED AT LEAST 115%.` THE LANDFILL IS STRUCTURED TO BE SELF-SUPPORTING, AND THE GUARANTEED ENTITLEMENT FUNDS ARE ONLY THERE IF THEY SHOULD BE NEEDED. THE CHAIRMAN ASKED IF ANYONE.PRESENT WISHED TO BE HEARD. CHARLES PRICE OF INDIAN RIVER COUNTY BUILDING TRADES ASSOCIATION SPOKE REPRESENTING GENERAL CONTRACTORS AND CONSTRUCTION HAULERS OF THE AREA, HE STATED THAT THEY FEEL THE RATES•AS PROPOSED BASED MAINLY ON THE TONNAGES, ARE PREPOSTEROUS. THEY ESPECIALLY FEEL 21 DEC 21197,7 eooX33 Au 77