11/18/1981 - Laserfiche WebLink

Home Browse Search

BOOK PArl5l Engineer Jim Davis explained the road improvement program. Commissioner Scurlock felt the proper approach for the Engineering Department would be to identify all roads on a list that would qualify for funding and have the dollar figures inserted - the Board needs to have the total picture. County Administrator Nelson advised that they are now in the process of compiling this information. Intergovernmental Coordinator Thomas advised the Board that they did authorize the issuance.of a tax anticipation note, and that note is due on December 17, 1981. He added that the Board could authorize withdrawal of the amount needed from the trust fund in Tallahassee; or the note could be paid out of surplus funds, and reauthorize the immediate reborrowing on an additional tax anticipa- tion note. This is called "rolling it over." Lengthy discussion ensued. Mr. Thomas felt the Board should give an indication of which route they want to use. He continued that if the Board does not want to make a decision for using the trust funds to liquidate their obligation of $300,000 plus interest, then they could authorize the Finance Department to make arrangements with the bank to "roll over" -for a period of one year. Discussion then followed regarding the final bills that will be coming in for Indian River Boulevard. On Motion made by Commissioner Scurlock, seconded by Commissioner Bird, the Board unanimously authorized funds of approximately $310,000, from the 5th and 6th Cent Gas Tax Trust Fund in Tallahassee, be allocated to the 8th Street project, as recommended by the Administrator's memorandum of November 6, 1981. On Motion by Commissioner Scurlock, seconded by Commis- sioner Bird, the Board unanimously authorized the Finance Department and the County Attorney to proceed with negotiating the Tax Anticipa- tion Roll -ever Note. - _20 -