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RIGHT-OF-WAY IN LOT 38, UNIT 4, AND PARCEL A, UNIT 2, OF THE MOORINGS, <br />AND THE RESPONSIBILITY FOR MAINTENANCE OF SAME AFTER INDENTIFICATION <br />AND.ACCEPTANCE OF THE ADMINISTRATOR. <br />INTERGOVERNMENTAL COORDINATOR THOMAS DISCUSSED INTERIM <br />FINANCING FOR THE GIFFORD MATER SYSTEM, AND NOTED THAT ABOUT SIX <br />MONTHS AGO HEIWAS ASKED TO CHECK WITH THE BANKS AND GET A COMMITMENT <br />IN THE AMOUNT OF $402,500, AS REQUIRED BY FARMERS HOME ADMINISTRATION. <br />THIS IS BECAUSE IT IS NECESSARY TO USE THE LOAN PORTION BEFORE USING <br />THE GRANT, AND THEY REQUIRE THAT YOU GET THE INTERIM FINANCING <br />AND THEN PAY OFF -THE INTERIM FINANCING. MR. THOMAS STATED THAT HE <br />HAS GOTTEN A COMMITMENT AND NOW NEEDS THE CHAIRMAN TO SIGN THE NOTE <br />BECAUSE WE ARE ABOUT TO USE UP ALL OF THE ECONOMIC DEVELOPMENT <br />ADMINISTRATION FUNDS. <br />ENGINEER RICHARD VOTAPKA REPORTED THAT THE ELEVATED STORAGE <br />TOWER FOR THE GIFFORD WATER SYSTEM IS NOW UNDER CONSTRUCTION AND <br />.THEY ARE TRYING TO GET WATER TO THE GIFFORD SCHOOLS BEFORE AUGUST <br />28TH. HE STATED THAT THEY EXPECT DRIVEWAYS, INC., TO COMPLETE THEIR <br />RENOVATION WORK IN LATE SEPTEMBER. ENGINEER VOTAPKA AGREED THAT <br />WE ARE ABOUT TO EXHAUST THE EDA BASIC GRANT AND NOW NEED ADDITIONAL <br />FUNDS. <br />INTERGOVERNMENTAL COORDINATOR THOMAS STATED THAT HE HAS <br />ONE BILL ON HAND AMOUNTING TO ABOUT $140,000 AND EXPECTS ANOTHER <br />LARGE BILL SOON. HE REQUESTED THAT THE CHAIRMAN BE AUTHORIZED TO <br />SIGN A NOTE AGAINST OUR COMMITMENTS UP TO AND NOT TO EXCEED $330,000. <br />ATTORNEY COLLINS INFORMED THE BOARD THAT THE BOND VALIDATION <br />SUIT IS NOW COMPLETE AND THE BOARD PREVIOUSLY PASSED ON THE AUTHORITY <br />. NECESSARY ON THE NOTES SO ALL THAT IS NEEDED IS TO DETERMINE THE <br />AMOUNTS NECESSARY FOR INTERIM FINANCING. <br />ON MOTION BY COMMISSIONER Loy, SECONDED BY COMMISSIONER <br />SCHMUCKER, THE BOARD UNANIMOUSLY AUTHORIZED THE CHAIRMAN TO SIGN A <br />BOND ANTICIPATION NOTE TO FIRST CITRUS BANK OF INDIAN RIVER COUNTY <br />FOR A PERIOD NOT IN EXCESS OF TWO YEARS FOR AN AMOUNT UP TO $330,000 <br />AT AN INTEREST RATE ACCEPTABLE TO THE CHAIRMAN. <br />5 <br />JUL 5 1978 <br />