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866K 4 =P��� X42 <br />AND THE CITIZENS OF THE COUNTY ARE PAYING FOR FOUR YEARS OF MIS— <br />MANAGEMENT AND HOPEFULLY THE NEW PROPERTY APPRAISER WILL BE ABLE TO <br />STRAIGHTEN IT OUT AND PUT IT ON AN -EVEN KEEL, <br />COMMISSIONER WODTKE FELT THAT WAS AN APPROACH HE COULD <br />NOT REALLY CONCUR WITH, BUT WAS HOPING THE NEW PROPERTY APPRAISER <br />COULD MAKE THE ADJUSTMENTS. HE SUGGESTED THAT THE BOARD INSTRUCT <br />THE PROPERTY APPRAISER TO DO THE 1981 ROLL BY TAKING OUT ALL <br />CONSTRUCTIbN DURING 1981, BACK THAT ROLL UP TO AN EQUITABLE 1980 <br />ROLL, THEN USE THE EQUITABLE ROLL TO BALANCE THE INEQUITABLE ROLL. <br />COMMISSIONER WODTKE STATED THAT RIGHT NOW WE ARE TRYING TO BALANCE <br />INEQUITY WITH INEQUITY. HE ADDED THAT THE CURRENT PROPERTY APPRAISER <br />HAS BEEN MOST COOPERATIVE AND HAS GIVEN HIM EVERY BIT OF REQUESTED <br />INFORMATION. <br />CHAIRMAN LYONS COMMENTED HE UNDERSTOOD HOW COMMISSIONER <br />WODTKE FELT, AND WAS JUST AS FRUSTRATED AS HE WAS. <br />INT -.RIM FINANCING FOR THE SOUTH COUNTY WATER PLANT AND SYSTEM <br />TO: Indian River County <br />Board of County Commissioners <br />k <br />FROM: Neil A. Nelson <br />County Administrator <br />1. Description and Conditions <br />DATE: April 7, 1981 FILE: <br />SUBJECT: Interim financing for the <br />South County water plant & system. <br />REFERENCES: <br />-On the $5,825,900 interim financing for the South County water <br />plant and system, Smith -Barney Company of Atlanta were unable <br />to complete this financing. Arch W. Roberts & Co., jointly with <br />The Leedy Corporation (both Florida companies), indicate that they <br />krq willing to handle these notes on an unrated basis. They have <br />t6 issue these -notes by May 5, 1981. Proceeds of these notes will <br />be invested immediately and then used when construction commences. <br />2. Alternative and Analysis <br />I do not believe that at this time there is any other viable alternative. <br />