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MAY 23 1984 BOOK 5`7 FACE 189 <br />dV <br />the refunding to allow for the issuance of junior-lien bonds <br />along with senior lien bonds. <br />Chairman Scurlock stated that his main question is in <br />regard to the cost benefit ratio of going ahead and doing <br />this. He believed on present market conditions we are only <br />talking about $20-30,000. <br />Administrator Wright explained that the action they are <br />requesting be taken today would allow us to make that <br />decision in the future. In 90 days if it would be feasible <br />to refinance, it would be set in motion for us to make the <br />decision. <br />Chairman Scurlock inquired about the cost involved. <br />Administrator Wright stated that, at this time, there <br />is only the court filing fee and the Attorney's time. Mr. <br />Brandenburg confirmed that there are no costs to amend the <br />Resolution; if validation of the junior lien series were <br />required, there would be a cost. If we were to issue both <br />junior and senior lien bonds, there would be considerable <br />costs involved, but he did not know the figures. <br />ON MOTION by Commissioner Lyons, SECONDED <br />by Commissioner Bird, the Board unanimously <br />(4-0) adopted Resolution 84-35, amending Reso- <br />lution 83-63 which authorized the issuance of <br />$5,700,000 Revenue Bonds to finance the con- <br />struction and equipping of additional court- <br />room facilities; adopted Resolution 84-36, <br />authorizing the issuance of $1,000,000 Capital <br />Improvement Revenue Bonds (Junior Lien) for the <br />same purpose; and authorized validation of same <br />with the understanding that no further action in <br />connection with the actual refinancing will be <br />taken without first coming back to the Commission. <br />70 <br />