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REQUEST OF WAIVER OF BOND VALIDATION BY HETRA COMPUTER AND <br />COMMUNICATIONS INDUSTRIES, INC. <br />The Board reviewed the following memo dated 3/2/84: <br />TELEPHONE [3051723-7731 REPLY TO: P.O. B0X 970 �r �1�s MELBOURNE, FLO14I0A32902.0970 <br />March 2, 1984 305-567-8000 <br />Mr. Gary M. Brandenburg <br />County Attorney _ <br />Board of County Commissioners <br />1840 25th Street <br />Vero Beach, FL 32960 <br />Dear Mr. Brandenburg: <br />HETRA Computer and Communications Industries, Inc., has obtained a <br />Commitment letter from the Barnett Bank to purchase up to $2,500,000 <br />of the Industrial Revenue Bonds subject of the inducement resolution <br />recently provided by the Commissioner, Mr. John Hallstrom, the Vice <br />President of the bank, with whom we have been dealing, has indicated <br />that his bank probably will not require that the bonds be "validated". <br />Mr. Hallstrom has been provided a copy of the inducement resolution <br />which he intends to forward to the bank's bond counsel, Livermore, <br />Klein and Lott. If they concur they will so notify Mr. Jud Freeman, <br />who has been designated as counsel for the County. For our part, <br />we place no particular value in the validation. If the bank's counsel <br />ooncurs, we ask that the Commissioners waive the requirement for <br />validation. In so doing, they will assist us in keeping the project <br />budget under control and aid in speeding this project to fruition. <br />We appreciate your efforts in presenting this matter to the Board of <br />Commissioners. A copy of Barnett's commitment letter is attached. <br />Should you require additional information, please do not hesitate to <br />contact me. <br />Sincerely, <br />Note:(Letter of Commitment signed by Barnett <br />Bank on file in the Clerk's Office) <br />HETRA <br />Robert J. Byer <br />Vice President <br />Attorney Brandenburg explained that HETRA has applied <br />to the County Commission for an industrial development <br />revenue bond in the amount of $2.5 million. The County has <br />adopted a Resolution of Inducement to that extent and HETRA <br />is now proceeding with their financing. It looks as if they <br />have a take-out commitment with a bank and will be <br />presenting the Board with a bond resolution and moving ahead <br />14 <br />PACE O5 <br />:MAR 14 1984 <br />