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ON MOTION by Commissioner Lyons, SECONDED <br />by Commissioner Bird, the Board unanimously <br />(4-0) authorized the Attorney to close on <br />the sale to the Humane Society. <br />(QUIT -CLAIM DEED AND CLOSING PAPERS. ON FILE IN CLERK'S. OFFICE) <br />LETTER OF COMMITMENT - FLORIDA NATIONAL BANK (S.R.60 WATER <br />LINE PROJECT <br />Attorney Brandenburg reviewed the proposed Letter of <br />Commitment and informed the Board that Florida National Bank <br />has agreed to two additional changes. In paragraph 4, page <br />two, the completion date of December 31, 1984, will be <br />changed so that we will enter into an appropriate contrac- <br />tual arrangement with a contractor to make water available <br />to the project by March 1, 1985. The reason for that is <br />that the project has two aspects - one is running of the <br />line that will supply the water and the other is the <br />building of an elevated water- tank; we don't feel the tank <br />will be done at that time, but there will be water available <br />to the project and the cost figures are the same. If they <br />should be exceeded the bank has indicated this could be <br />renegotiated. <br />Other changes were at the suggestion of OMB Director <br />Barton. In paragraph 8, page three, where it says sinking <br />fund, he wanted different terminology "sinking fund <br />investment" so that the paragraph would read "Issuer shall <br />maintain at Bank the sinking fund investment or improvement <br />fund investment for all monies received......" The bank <br />has indicated that those changes are satisfactory with them, <br />and the Attorney recommended the Board authorize execution <br />of the Letter of Commitment today. <br />Attorney Block representing the utility company that is <br />involved, stated that they are anxiously awaiting the <br />Commission's decision, and he had no objection to the <br />proposed changes. <br />37 <br />SPR 11 X994 '56 PAGE 721 <br />