Laserfiche WebLink
BOOK 45 PAGE 321, <br />STATUS REPORT - SOUTH COUNTY WATER DISTRICT SALE OF BOND <br />ANTICIPATION NOTES <br />ATTORNEY COLLINS REPORTED THIS ITEM REPRESENTS A CERTAIN <br />AMOUNT OF FRUSTRATION BY THE ADMINISTRATIVE PERSONNEL. THE COUNTY <br />BY RESOLUTION AUTHORIZED SMITH BARNEY TO LOOK INTO THE POSSIBILITY <br />OF OBTAINING BOND ANTICIPATION NOTES (BANS) ON THE SOUTH COUNTY WATER <br />SYSTEM, THE CONCEPT BEING THAT YOU COULD SELL THE NOTES AND THEN <br />INVEST THE MONEY FROM THE SALE; THERE IS AN OVERRIDE THAT OCCURS <br />DURING THE PERIOD PRIOR TO CONSTRUCTION; AND THERE IS INTEREST INCOME <br />TO BE MADE. HE STATED THAT WE HAVE BEEN GOING ROUND AND ROUND WITH <br />SMITH BARNEY IN EXCESS OF SIX MONTHS, AND NOW HAVE RECEIVED A COMMIT- <br />MENT OF WHAT THEY WANT TO DO AS PER THEIR FOLLOWING LETTER DATED <br />NOVEMBER 51 1980: <br />