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_I AUG 181982 Box 51 PAA E'102 Administrator Wright discussed the historical years that were taken into consideration in the Comparative Data and pointed out that there were two unusual years. He noted that there was a cut-back from the Water Management District, as well as a very wet year; the data was very sensitive. Lengthy discussion followed, and it was felt that perhaps the Finance Advisory Committee could get a good, in-depth analysis and ultimately set a policy. Mr. Robbins expressed concern about the Letter of Conditions involved with the $2.7 million loan; as approximately $426,000 was to be used to complete construction of the South County water plant, as well as the purchase of Treasure Coast Utilities & Ixora Utilities. He felt it important to make sure there was a vehicle by which the County could cover itself for the present construction obligations. Community Services Director Thomas thought that there had been a lack of timing relative to the $2.7 million loan. but the Board and the public, in that area, have indicated they want a system on the South Beach; now the Board is going from a FmHA type of bond to a public bond. He discussed the bond requirements and advised that the bond people have recommended a 1.2 coverage as opposed to a 1.1 coverage. Mr. Thomas stated that the County is in the water business, so the people are going to be demanding water; the County will be better off if it could take care of this now and cover the same requirement under the $7 million issue. Mr. Thomas continued that at the time that. Mr. Robbins' firm presented the final contract, there was a cost overrun of $426,000 and the Board did two things;" One was to facilitate the sale through a technicality that Mr. Livingood pointed out, by pledging funds temporarily to issue the bond anticipation note. The other thing was that