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F"_ DEC 51979 BOOK 42 PAGE 196 i THERE IS NO GUARANTEE THAT THE DEPARTMENT OF EDUCATION WILL GIVE THEIR APPROVAL, AND THERE IS A RISK INVOLVED. CHAIRMAN WODTKE SUGGESTED THAT WE COULD INCLUDE SOME LANGUAGE REQUIRING THAT THE LOCAL SCHOOL DISTRICT APPROVE THE PLANS AND SPECIFICATIONS, AND IF THERE ARE ANY MAJOR MODIFICATIONS, THEY WILL BE RESPONSIBLE FOR THEM. ATTORNEY COLLINS AND MR. KONTOULAS AGREED THIS WAS A GOOD IDEA. COMMISSIONER SIEBERT ASKED IF THE ADDENDUM WOULD HAVE TO BE BID SEPARATELY, AND MR. KONTOULAS STATED THAT AN ADDENDUM CAN BE INSERTED IN THE SPECIFICATIONS AT A LATER DATE. USUALLY IT IS HANDLED BEFORE THE BIDS ARE RECEIVED, AND THESE ADDS OR DEDUCTS ARE INCLUDED IN THE BID. IN FURTHER DISCUSSION, IT WAS DECIDED THAT JANUARY LITH SHOULD BE THE DEADLINE FOR GETTING ADDENDUMS AND A DECISION OF THE SCHOOL BOARD. WILLIAM KOOLAGE, INTERESTED CITIZEN, ASKED IF THE BOARD HAS ARRIVED AT A LEASE WITH THE SCHOOL BOARD ON THE SAME BASIS AS OTHER DEPARTMENTS, OR IS IT MORE FAVORABLE TO THEM WITH THE COUNTY PICKING UP SOME OF THE COSTS. ATTORNEY COLLINS FELT THERE COULD WELL BE.SOME DISTINCTION BETWEEN THE LEASES, AND THE CHAIRMAN POINTED OUT THAT WE ARE LEASING THE SCHOOL DISTRICT 26,000 SQ. FT. WHILE ONLY 1,600 SQ. FT. TO THE STATE DIVISION OF LICENSING, FOR INSTANCE. THE CHAIRMAN CONTINUED THAT THEY HAVE INSERTED SOME LANGUAGE TO TAKE CARE OF MAJOR REPAIR, BUT BASICALLY IT IS A 30 -YEAR LEASE AT A SET ANNUAL AMOUNT, WHICH IS BASICALLY OUR COST WITH A 10% CON- TINGENCY AND AN ESTIMATED INTEREST FIGURE FROM THE BONDING PEOPLE OF ABOUT 5-1/4%. DISCUSSION FOLLOWED AS TO WHETHER THE INTEREST RATE WENT UP BECAUSE WE WENT TO 30 YEARS INSTEAD OF 20, AND MR. THOMAS FELT THERE WOULD BE.A VERY FRACTIONAL CHANGE UNTIL YOU GOT PAST 30 YEARS. THE BOARD THEN WENT INTO A TECHNICAL DISCUSSION OF COLLATERALIZATION, AMORTIZATION, ETC.