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City Attorney Charles Vitunac stated that the City's Legal staff believed that the only <br />way to guarantee repayment was to have the General Obligation (G.O.) Bond by a vote of the <br />people. <br />City Manager Gabbard had talked with State Representative Ralph Poppell who agreed <br />that a G.O. was the only way we could do this. Mr. Gabbard discussed budget cuts and did not <br />know how things would work out if they exercised Commissioner O'Bryan's option. <br />Commissioner O'Bryan clarified his comments regarding a 5-0 vote versus voter <br />referendum. Administrator Baird also discussed the dilemma the County is in because of the tax <br />reform. <br />Chairman Wheeler opined that if we are not able to put something on the table that is <br />competitive with other cities then we are going to lose Piper. He said we either have to be in the <br />game or not waste our time. <br />Commissioner Flescher thanked the negotiating team and urged that they move forward, <br />because any delay in the process would cause this negotiation to be in vain. <br />Administrator Baird wanted to set the records straight because of prior comments <br />regarding the Dodgers. He explained that "the Dodgers" was a retention project and the County <br />had not lost anything. He thought Piper should give us a chance to bring this to the voters in 90 <br />days. <br />Mayor White thanked Penny Chandler and Helene Caseltine from the Chamber of <br />Commerce for the work they had done on this incentive package. <br />June 21, 2007 6 <br />Joint Meeting/City of Vero Beach re Piper Aircraft <br />