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1984 <br />- 5.40% <br />1985 <br />- 5.85% <br />1986 <br />- 6.25% <br />1987 <br />- 6.07% <br />1988 <br />- 6.90% <br />Net Interest Cost Rate: 6.786794% <br />n 2 .3 %­ n <br />On opening the bid from Arch W. Roberts & Co., <br />Associates, Mr. Blackwell announced their bid to purchase <br />the $5 -million beach acquisition bonds of $4,961,750; their <br />coupons are as follows: <br />1984 - <br />5.25% <br />1985 - <br />5.75% <br />1986 - <br />6.10% <br />1987 - <br />6.40% <br />1988 - <br />6.75% <br />Net Interest Cost Rate: 6.589401% <br />Finance Director Barton and Mr. Blackwell acknowledged <br />receipt of bids from the above firms and announced their <br />intention to retire to assess and review same and to return <br />to the Commission in one-half hour with a recommendation. <br />It was explained that the County was able to obtain a <br />upgrading of its bonds to A from B -AA due to the efforts -in <br />convincing rating agents from Moody and Standard & Poor <br />during their recent trip to Indian River County. As a <br />result, the County is saving an insurance premium of <br />approximately $30,000 on the beach acquisition bonds alone. <br />Commissioner Scurlock recommended that Chairman Bird <br />write a letter to the Finance Advisory Committee commending <br />them on a job well done. <br />APP 2 O 1983 37 s�o 5% PACE <br />265 <br />I <br />