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10.A.3. PROPOSED ORDINANCE AMENDING CODE SECTION 913.10(2) (B)3 To <br />LOWER THE A.M. BEST RATING REOUIRENIENT FOR MAINTENANCE BONDS FROM <br />A+VII TOA -VI (LEGISLATIVE) <br />PROOF OF PUBLICATION OF ADVERTISEMENT FOR HEARING IS ON FILE IN THE <br />OFFICE OF THE CLERK TO THE BOARD <br />Attorney Collins acknowledged that this item was brought forward from the April 8, 2008 <br />Board of County Commission Meeting, where the Chairman had asked him to bring back the <br />Amendment lowering the rating of Maintenance Bonds from A+VII to A -VI. <br />Chairman Bowden opened the public hearing. <br />Joseph Paladin expressed how difficult the A+VII rating was to obtain, and he proposed <br />that the A -VI rating be adopted. <br />There were no additional speakers, and the Chairman closed the public hearing. <br />Commissioner Flescher wanted to know if this would have any adverse effect on the <br />County for future projects. Attorney Collins did not feel it would cause any substantial change, he <br />pointed out that there would be more security for longer periods of time, and that it was extended <br />from a one-year to a three-year warranty period. <br />14 <br />April 29, 2008 <br />