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9/7/1983
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9/7/1983
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7/23/2015 11:50:02 AM
Creation date
6/11/2015 3:11:21 PM
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Meetings
Meeting Type
Regular Meeting
Document Type
Minutes
Meeting Date
09/07/1983
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DONALD NEWTON <br />CARL W. REH <br />M. D.0. RIDDELL <br />RICHARD E FOERSTER <br />ELMER F. SALLOTTI <br />ROBERT M. ZIMMERMAN <br />PAUL E LANGDON. JR. <br />ALLAN IL EDWARDS <br />PAUL A. KUHN <br />ARTHUR N. ADAMS <br />WALLACE A. AMBROSE <br />RONALD E. SIZZARRI <br />THOMAS J. SULLIVAN <br />ASSOCIATE& <br />WARREN W. SADLER <br />JACK W. CORMACK <br />ROBERT DEL RE <br />JOHN M.SKACH <br />RICHARD P. MILNE <br />JOHN C. VOGEL <br />GLENN R. WENTINK <br />THOMAS E. WILSON <br />EDWARD T. KNUDSEN. JR. <br />EARL L HECKMAN <br />WILLIAM C. KRAMER <br />TERRY L. WALSH <br />THOMAL. W. BURKE <br />RONALD F. MARTIN <br />JERRY C. FISH <br />JOHN R. TROMP <br />RICHARD S. ERHARDT <br />JOHN D. ULLINSKEY <br />KENNETH V. JOHNSON <br />HAROLD 0. GILMAN <br />R. SRINIVASARAGHAVAN <br />MELVIN C. LANE <br />ROGER J. CRONIN <br />JOHN F. SEIDENSTICKER <br />CARL M. KOCH <br />EDWARD M. GERULAT. JR. <br />FEDERICO E. MAISCH <br />CLYDE WILBER <br />GREELIEY ANO HANSEN <br />E N G I N E E R S <br />121 T NORTH WEST SHORE BLVD.. TAMPA. FLORIDA 33807 • (813) 879.3750 <br />Mr. Terrance G. Pinto <br />Utilities Director <br />Indian River County <br />P. 0. Box 1750 <br />Vero Beach, Florida 32960 <br />Re: Proposed Acquisition of the <br />Lost Tree Development Company <br />Irrigation Supply System <br />Dear Mr. Pinto: <br />August 1, 1983 <br />THOMASM.NIL With regard to our recent discussions pertaining to County <br />THOMAS M. NILES <br />SAMUEL M. CLARKEAI <br />JOHN F. KAUSAL AA acquisition of subject system, Greeley and Hansen will be pleased <br />- <br />HENRY M. ZUKOWSM to assist you In its evaluation. <br />J. BENJAMIN VER140EK <br />T. RUSSELL ALMOALE <br />JOHN W. HARDIE Utility, evaluations can usually be done using two sets of <br />PHILLIP S. DENT criteria: First is the value based upon establishing the depre- <br />ciated replacement cost. You cannot pay more than this amount <br />because it would become less expensive to build it yourself. <br />This excludes values for franchises and an ongoing business. <br />Both would be included if you choose to condemn the system. <br />The second and preferred method of evaluation is based upon <br />cash flow. Regardless of construction cost, the system must pay <br />for itself. Otherwise, the impact on the rest of the County <br />utilities customers is for them to underwrite the newly purchased <br />utility and that could mean rate increases. <br />Generally, theCountyshould seek to purchase utilities based' <br />upon the cash flow method. The system must pay for itself and stand <br />alone financially. This requires.an analysis of the financial records <br />for the 12 months immediately prior to the study period. Such records <br />need to show all incomes from various sales or fees plus expenses <br />including labor, equipment repairs, utilities, chemicals, other sup- <br />plies and any other expenses associated with the financial operation <br />of the utility. <br />SEP 7 1983 F0UNOEO 1 N 1914 Bou 54 PAw-4-, <br />
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