12/23/1982 - Laserfiche WebLink

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in investments which will mature at times that will coincide with when we need to spend the money. Discussion followed regarding the investment underwriting expenses listed in Schedule A of Mr. Livingood's letter of December 30th and those listed in Schedule A of the Purchase Agreement. Mr. Livingood explained that Schedule A attached to the Purchase Agreement has three items totaling $3,560. The Schedule A on the Disclosure statement omitted the third item relating to courier pickup and delivery, which should have been included and added to the $7,940 estimated underwriting expense. He noted that the primary purpose of this estimated underwriting expense statement is to comply with the Florida State law which requires the underwriter to provide a schedule of estimated expenses that specifically does not include any finder's fee. The three items on the Purchase Agreement Schedule A should be duplicated in the estimated underwriting expenses on the disclosure statement. Those additional underwriting expenses on the disclosure are, of course, paid from the discount. Discussion ensued as to how much the county pays and how much the underwriter absorbs, and Mr. Livingood stated that of the total underwriting expenses ($8,690), $3,560 will be reimbursed by the County, and the balance will come out of their spread. It was felt it would be better if these figures were spelled out in schedules designated with different letters, and Mr. Livingood agreed this would be done. Mr. Livingood next discussed escrowing 1 million until 1984 as security for those who purchase the notes, noting that the best security would be if the County had the FmHA commitment right now, but they do not have that FmHA Guide lA Commitment Letter and cannot afford to wait for it until March of 1984. FmHA has made a preliminary commitment and 31 DEC 2 3 1982 p� . 71 .1