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WHERE A GROUP OF CITIZENS COULD GIVE ADVICE AND MAKE RECOMMENDATIONS <br />TO THE BOARD. <br />COMMISSIONER FLETCHER ASKED MR. DAVIS IF HE WOULD BE <br />MOVING TO THIS COUNTY WITHOUT THE FINANCE AUTHORITY. <br />MR. DAVIS RESPONDED THAT THEY COULD NOT AFFORD TO MOVE <br />HERE WITHOUT IT. <br />MR. NORTON ONCE AGAIN ENCOURAGED THE BOARD TO APPROVE THIS <br />PROGRAM FOR INDUSTRIAL REVENUE BONDS AS THE CHAMBER OF COMMERCE WAS <br />INTERESTED IN PROTECTING THE COUNTY, AND ALSO FOR PROVIDING JOBS <br />HERE FOR THE UNEMPLOYED. <br />MR. BOBROFF, DEPARTMENT OF COMMERCE, STATED THAT THE INDUSTRIAL <br />REVENUE BONDS WOULD BE EXTREMELY IMPORTANT IN THE STATE OF FLORIDA <br />FOR THE STIMULATION OF ECONOMIC GROWTH. HE CONTINUED THAT MISSISSIPPI <br />WAS THE FIRST STATE TO USE THEM AND NOW 47 STATES USE THIS PROGRAM. <br />MR. BOBROFF REPORTED THAT THIS WOULD CREATE JOBS FOR THE PEOPLE THAT <br />ARE ALREADY HERE, AND FOR THOSE THAT WILL MOVE HERE PLUS FOR THE <br />CHILDREN OF THIS COUNTY. HE NOTED THAT IN 1958, $120 MILLION WORTH <br />OF ISSUES WERE BROUGHT ABOUT; IN 1975, $1.8 BILLION OF ISSUES WERE DONE; <br />AND IN 1980, THERE WERE $8.4 BILLION WORTH OF ISSUES GENERATED. MR. <br />BOBROFF THOUGHT THIS COMMUNITY HAD A LOT TO OFFER, BUT SO DO A LOT <br />OF OTHER COMMUNITIES AND STRESSED THAT UNFORTUNATELY, THIS FIELD <br />WAS COMPETITIVE - THE INDUCEMENT TO COME TO AN AREA WOULD BE WITH <br />INDUSTRIAL REVENUE BONDS. HE EXPLAINED THE IMPORTANCE OF OBTAINING <br />AN INDUCEMENT AGREEMENT FROM THE COUNTY IN ORDER TO PROCEED WITH THE <br />INDUSTRIAL REVENUE BOND PROGRAM. <br />A LONG, DETAILED DISCUSSION FOLLOWED ABOUT THE COMPOSITION <br />OF AN INDUSTRIAL DEVELOPMENT AUTHORITY, AND IT WAS POINTED OUT THAT <br />THE BOARD OF COUNTY COMMISSIONERS COULD ACT AS THIS AUTHORITY. <br />COMMISSIONER BIRD INQUIRED ABOUT THE OWNERSHIP OF PROPERTY <br />ACQUIRED WITH THE BONDS. <br />ATTORNEY WHEELER INTERJECTED THAT THE COUNTY OWNS THE PROPERTY <br />AND IT IS NOT REMOVED FROM THE TAX ROLL - IT IS SIMILAR TO A LEASE -BACK. <br />mu - 46 PAGE 75 7 <br />J <br />