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Mr. Connelly explained that this is a somewhat unusual <br />situation - as of August 19th they had preliminary plat approval <br />for Kingslake Subdivision, Phase II, but they are currently in <br />the process of marketing Kingslake Subdivision, Phase I, and only <br />18 of the 46 1/2 acre lots have been sold; they had to pay off <br />blanket mortgages and there is not much cash flow for the <br />developers at this time. They, therefore, would like to get this <br />extension to protect them and give them time to sell the lots to <br />bring about a better development. <br />The Chairman called for the question. It was voted on and <br />carried unanimously. <br />The Chairman announced that a meeting of the Rockridge <br />Street Lighting District would convene immediately upon <br />adjournment of the Commission meeting. <br />COURT ORDER DECLARING SEBASTIAN ANNEXATION INVALID <br />The following Court Order declaring Sebastian Ordinance <br />81-27 invalid is -made a part of the Minutes for information <br />purposes: <br />L_ t <br />APR 211982 67 AnnK 49 pw467 <br />