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s � � <br />voluntary assessment and that when the assessment roll is <br />prepared, they will agree to it and provide legal <br />descriptions. He continued that there are 17 land owners <br />involved at this point, and they still have a few taps that <br />have not gone out, and those will -be included. They will <br />also place a covenant on each of the properties stating that <br />the taps must run with the land to successor owners, and <br />that all of this will be spelled out in the agreements. <br />Commissioner Wodtke asked if it is required that all of <br />these lands be contiguous and Attorney Paull advised that <br />all that is required is that the area being assessed -be <br />benefited by the improvement. <br />Commissioner Lyons noted that Item #2 sets a deadline <br />of January 1, 1985, for installation of the water lines, and <br />he wished to know what would happen if the County, through <br />its best efforts, did not meet that deadline. Attorney <br />Paull felt if the County had done its best to meet the <br />deadline, it would meet the terms in Item #2 of the <br />agreement. Attorney Block confirmed that the times periods <br />mentioned in Item #2 and Item #8 should be consistent. <br />Vice Chairman Scurlock noted that the Board was as <br />anxious as West County Utility to get this done as quickly <br />as possible, but we just do not want to get into a penalty <br />situation. <br />Administrator Wright understood that the irrevocable <br />letter of credit mentioned in Item #3 is in place and would <br />not be used until such time as the financing is in place. <br />Attorney Block explained that the reason they proposed <br />this as a corporation is because the individual property <br />owners did not have $650,000, and, basically, it is a <br />standby letter of credit that will never be drawn on. It <br />simply demonstrates their good faith that they will meet <br />County requirements and that they have.put up the $650,000. <br />John. Turnbull, President of Florida National Bank, will <br />30 <br />DEC 211983 a rK 55. mf 678 <br />