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�V <br />SEP 161981 86OX 4 7 PAGE 513 <br />COMMISSIONER FLETCHER REQUESTED THAT THE MEMO OF THE <br />INTERGOVERNMENTAL COORDINATOR WHICH IS IN REGARD TO MAKING SURE THAT <br />THE TAX ANTICIPATION NOTE MONEY WHICH IS BORROWED FROM THE MUNICIPAL <br />SERVICE FUND ACCOUNT DOES NOT GET LOST IN THE FMHA SHUFFLING OF MONEY, <br />BE MADE A PART'OF THE MINUTES AS FOLLOWS: <br />TO: Board of County Commissioners DATE: September 14, 1981 FILE: <br />THRU: Neil A. Nelson, S U BJ ECT: Budget - Municipal Service <br />County Administrator Fund Account #004-513- 99.96 <br />$480,125.00 <br />FROM: REFERENCES: <br />L. S. "Tommy" Thomas <br />Intergovernmental Coordinator <br />Description <br />I do not believe that the above account #004-513-99.96 should be classified <br />either as an expense item or a reserve. It is the intent that these funds <br />shall eventually come from a new Bond Issue to be sold to Farmers Home Ad- <br />ministration. This sale has been authorized by the Board of County Commissioners <br />and has been approved in concept by the,Farmers Home Administration. We <br />currently have $1,900,000.00 set aside for us by agreement with Farmers Home <br />Administration dated in 1973. <br />Recommendation <br />I recommend that we issue Tax Anticipation Notes in the amount of $500,000.00. <br />These should be issued after October 1, 1981. When the new Bonds are validated <br />(during fiscal 1981-82), the Tax Anticipation Notes should be replaced with <br />Bond Anticipation Notes in the amount of $500,000.00. These will be paid in <br />full when the final Bonds are sold to Farmers Home Administration. I am greatly <br />concerned that we would use money from the Municipal Service Funds (all of the <br />unincorporated areas of Indian River County), to secure and finance a project <br />that is within the South County Water Taxing District only. If this recommend- <br />ation is accepted, this will release $480,125.00 from the expense side of the <br />budget - which in turn will lower the ad -valorem tax in the Municipal Service <br />Fund up to this amount. <br />I have cleared this matter with Joe Collins, County Attorney. <br />ATTORNEY COLLINS REQUESTED THAT THE BOARD AT THIS POINT <br />APPROVE A RESOLUTION ASSURING FARMERS HOME ADMINISTRATION THAT THE COUNTY <br />WILL PAY THE SHORTFALL OF $425,808.81 NECESSARY TO ASSURE SUCCESSFUL <br />COMPLETION OF THE SOUTH COUNTY WATER SYSTEM IMPROVEMENTS. <br />MOTION WAS MADE BY COMMISSIONER WODTKE, SECONDED BY COMMIS— <br />SIONER SCURLOCK, TO APPROVE RESOLUTION 81-62 MAKING ASSURANCES TO <br />FMHA AS ABOVE AND APPROVE THE SIGNATURE OF THE CHAIRMAN. <br />46 <br />