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If the Board of County Commissioners deems that an installment <br />plan is appropriate, the Utility Department would like to <br />propose the following terms: <br />The impact fee of $1,140.00 be paid over a 60 month <br />installment period at an interest rate of 11j%. The <br />monthly payment will be $25.08 the first payment is <br />due immediately. <br />The customers entail cash outlay will be as follows: <br />Tapping Charge $ 186.50 <br />Meter Installation 115.00 <br />Deposit 40.00 <br />First Installment Payment 25.08 <br />Entail Cash Outlay $ 366.58 <br />59 Monthly Installments at $25.08 <br />ALTERNATIVES: <br />1. The Honorable Board of County Commissioners allow Mr. and <br />Mrs. Robert Smith to pay impact fees on a 5 year installment <br />plan. <br />2. The Honorable Board of County Commissioners disallow <br />Mr. and Mrs. Robert Smith to pay impact fees on a 5�year install- <br />ment plan. <br />RECOMMENDATION: <br />The Utility Department recommends the Honorable Board of County <br />Commissioner allow Mr. and Mrs. Robert Smith to pay impact fees <br />on an installment basis under the terms stated above. <br />ON MOTION by Commissioner Scurlock, SECONDED <br />by Commissioner Bowman, the Board unanimously <br />agreed to allow Mr. and Mrs. Robert Smith to <br />pay impact fees on a 5 -year installment plan as <br />recommended by staff. <br />"T" <br />K. Approval Installment Payments of Water Impact"Fees (Russ) <br />The Board reviewed staff memo and recommendation: <br />13 <br />MAR 20 1985 <br />BOOK ® PACE <br />