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WEDNESDAY, NOVEMBER 5, 1080 <br />THE BOARD OF COUNTY COMMISSIONERS OF INDIAN RIVER COUNTY, <br />FLORIDA, ACTING AS THE DISTRICT BOARD OF FIRE COMMISSIONERS OF THE <br />SOUTH INDIAN RIVER FIRE DISTRICT, MET AT THE CITY BALL COUNCIL <br />CHAMBERS, 1053 20TH PLACE, VERO BEACH, FLORIDA, ON WEDNESDAY, <br />NOVEMBER 5, 1980, AT 10:30 O'CLOCK A.M. PRESENT WERE WILLARD W. <br />SIEBERT, .JR., CHAIRMAN; ALMA LEE Loy, VICE CHAIRMAN; R. DON DEESON, <br />AND PATRICK B. LYONS. WILLIAM C. WODTKE, SJR. WAS ABSENT DUE TO <br />COUNTING ABSENTEE BALLOTS. ALSO PRESENT WERE NEIL A. NELSON, COUNTY <br />ADMINISTRATOR; L.S. "TOMMY" THOMAS, INTERGOVERNMENTAL COORDINATOR; <br />GEORGE G. COLLINS, JR., ATTORNEY TO THE BOARD OF COUNTY COMMISSIONERS; <br />JEFFREY K. BARTON, FINANCE OFFICER; AND JANICE CALDWELL, DEPUTY CLERK. <br />CHAIRMAN SIEBERT CALLED THE MEETING TO ORDER AND NOTED THE <br />PURPOSE OF THE MEETING IS TO HAVE AN UPDATE REPORT REGARDING THE <br />BOND ANTICIPATION NOTE FINANCING FOR THE SOUTH INDIAN RIVER COUNTY <br />FIRE DISTRICT. <br />THOMAS MASON, FINANCIAL ADMINISTRATOR, APPROACHED THE <br />BOARD AND ADVISED THEM THAT HE AND FINANCE OFFICER BARTON DISCUSSED <br />THE TAX ANTICIPATION NOTES WITH MR. BLAND, OF WILLIAM R. HOUGH & CO., <br />REGARDING THE PROPOSED VENTURE. HE THOUGHT OUR POSITION WOULD BE <br />BETTER IF THE BOARD OF FIRE COMMISSIONERS WOULD ALLOW THEM TO RE- <br />NEGOTIATE OUR EXISTING LOAN WITH THE BANK, AND IF WE RENEGOTIATE THE <br />LOAN, THERE WOULD BE ENOUGH MONEY TO CARRY THEM INTO JANUARY, AND <br />THEY COULD ABORT THE TAX ANTICIPATION NOTE. MR, MASON STATED THAT <br />THE MAXIMUM AMOUNT THAT CAN BE BORROWED IS $805,000; THIS WOULD ONLY <br />BE AN ADDITIONAL $300,000 WHICH COULD BE INVESTED, AND HE FELT IT <br />WOULD BE A BETTER POSITION TO STOP THE TAX ANTICIPATION NOTE AND <br />REQUEST AN EXTENSION ON OUR LOAN AT THE BANK. <br />ATTORNEY COLLINS ASKED IF THEY WANTED TO RENEGOTIATE WITH <br />THE FIRST CITRUS BANK FIRST AND COME BACK TO THE BOARD WITH A FIRM <br />PROPOSAL, OR WERE THEY LOOKING FOR A MOTION NOW TO MODIFY THE NOTE. <br />FINANCIAL ADMINISTRATOR MASON COMMENTED THAT HE WOULD LIKE <br />A MOTION TO MODIFY THE NOTE AND THEN RENEGOTIATE WITH THE BANK. <br />31 <br />NOV 51980 45 <br />'.49 <br />