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JAMES BEINDORF, ENGINEER, APPROACHED THE BOARD REQUESTING FINAL APPROVAL OF BENT PINE SUBDIVISION, UNIT 1 AND UNIT 2, OWNED BY FLORIDA LAND COMPANY. HE PRESENTED THE PLANS TO THE BOARD AND EXPLAINED THAT THE UNITS WERE GIVEN TENTATIVE APPROVAL EARLIER THIS YEAR, MR. BEINDORF NOTED THAT THE IMPROVEMENTS HAVE NOT BEEN COMPLETED, AND THE BOND AND AGREEMENT TO CONSTRUCT ALL THE ROADS, AS PROPOSED BY THE DEVELOPER, WERE STUDIED BY ATTORNEY COLLINS WITH ATTORNEY DAN WHITE. MR. BEINDORF COMMENTED THAT THE IMPROVEMENTS WILL START AS SOON AS THE CONSTRUCTION DRAWINGS ARE COMPLETED; THE GOLF COURSE IS NOW COMPLETED. HE STATED THE WATER AND SEWER ARE BEING DESIGNED AND THEY SOON WILL BE ASKING FOR A FRANCHISE IN THIS AREA. MR. BEINDORF STATED THAT THEY WILL BE BUILDING A PRIVATE ROAD FROM KINGS HIGHWAY ALL THE WAY THROUGH THE PROPERTY,AND IT WILL HAVE LIMITED ACCESS. CHAIRMAN WODTKE ASKED IF IT WAS A CASH BOND. ATTORNEY COLLINS ANSWERED THAT IT WAS NOT - THE DEVELOPER WANTS TO ENTER INTO A CONTRACT WITH THE COUNTY, AND ATTORNEY WHITE HAS DRAWN THE CONTRACT CONSISTENT TO THEIR DISCUSSION. CHAIRMAN WODTKE NOTED THAT THE COUNTY HAS HAD PROBLEMS WITH BONDING COMPANIES. COMMISSIONER LOY ASKED HOW LONG IT HAD BEEN SINCE WE ACCEPTED SURETY BONDS. ATTORNEY COLLINS REPLIED THAT WITHIN THE LAST FOUR OR FIVE MONTHS WE HAD ACCEPTED SURETY BONDS ON THE MINING OPERATIONS. FACTOR. COMMISSIONER SIEBERT NOTED THAT THERE IS ONLY A 10% INFLATION COMMISSIONER Loy WONDERED WHAT ASSURANCE THE COUNTY HAS THAT THE POTENTIAL SALE OF FLORIDA GAS COMPANY AND ITS SUBSIDIARIES WILL HAVE NO AFFECT ON THIS PROJECT. ATTORNEY COLLINS FELT THAT WAS A VERY BROAD QUESTION - FLORIDA LAND COMPANY HAS A SIZABLE INVESTMENT, AND HE FELT THE RISK FROM THE COUNTY'S POINT OF VIEW IS MINIMAL. DISCUSSION FOLLOWED ABOUT THE ORDINANCE PERTAINING TO THIS MATTER, AND ATTORNEY COLLINS STATED THAT THE ORDINANCE ALLOWS EITHER A LETTER OF CREDIT OR SOME SUBSTITUTE ACCEPTABLE TO THE COMMISSION. 5 BOOK l F�� AUG 8 199