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B. For combining all its water and sewer systems into one <br />integrated system requiring changes in bond resolution <br />documentation for the outstanding Water and Sewer Revenue <br />Bonds Series 1979; Water and Sewer. Revenue Bonds Second <br />Series 1979; Water Revenue Bonds, series 1980 (South. <br />County system) and all necessary anticipation notes of the <br />County. <br />This writer agrees that the procedure envisioned in Item B above <br />would be in the County's best interest in reducing a cumbersome <br />accounting system that has developed because of several individual <br />bond issues or acquisitions. However, I am concerned that the <br />restructuring of the outstanding obligations may delay financing of <br />the two new acquisitions. For this reason, I recommend that the <br />County proceed with the financing/refinancing package, monitor its <br />progress and, if it appears that the addition of Item B refinancing <br />work will delay acquisition of the two new utilities, then proceed <br />only with Item A financing. <br />Respectfully submitted, <br />X � <br />Gary M. Brandenburg <br />County Attorney <br />Attorney Brandenburg informed the Board that what they <br />are presenting today is that we not only go out for 2.6 <br />million for the two plants, but at the same time work on <br />preparing a Master Bond Resolution to restructure all the <br />financing we have out with FmHA for the water and sewer <br />obligation, which would put an end to separate accounting <br />and separate tracking of funds and monies for the various <br />bond operations. He noted that since the county has done <br />this in separate steps,these all have required separate bond <br />issues which makes a real accounting problem. He explained <br />that this would not affect the bond rates or the interest <br />and no validation would be required; this would just be a <br />master bond resolution restructuring that would be <br />acceptable to FmHA. <br />Coordinator Thomas commented that it is only now that <br />FmHA has agreed to this, or staff would have recommended <br />such a restructuring sooner. <br />Commissioner Fletcher felt when we went into the water <br />and sewer business, we were doing it for the benefit of <br />those areas that had a problem, and he was concerned that <br />