Laserfiche WebLink
that Florida National Bank is squeamish due to possible changes <br />in the taxability of interest earned on municipal bonds and has <br />requested a clause stating that, if the bonds become taxable, <br />they will receive the same after-tax yield as they would if they <br />were not taxable. To accomplish this we have to request a waiver <br />of the maximum interest rate applicable to Florida counties. <br />Telephone: (305) 567-8000 <br />ON MOTION by Commissioner Scurlock, SECONDED by <br />Commissioner Bowman, the Board unanimously <br />approved the following letter be sent to the <br />State Board of Administration applying for a waiver of <br />the maximum interest rate applicable to counties with <br />respect to Indian River County Improvement Bonds, <br />Series No. 2 ($5,165,000), and authorized the <br />Chairman's signature. <br />BOARD OF COUNTY COMMISSIONERS <br />1840 25th Street, Vero Beach, Florida 32960 <br />April 24, 1985 <br />• <br />Dr. E. J.Yelton, <br />Executive Director <br />State Board of Administration <br />Post Office Drawer 5318 <br />Tallahassee, FL 32301 <br />Re: $5,165,000 Indian River County, Florida <br />Improvement Bonds, Series No. 2 <br />Dear Dr. Yelton: <br />Suncom Telephone: 424-1011 <br />In accordance with the provisions of <br />Section 19-5.02 of the Rules <br />of the State <br />Board of Administration, <br />Indian River County, <br />Florida <br />(the "County"), <br />hereby applies for <br />authority to sell the <br />above <br />bonds at an <br />interest rate in excess of <br />the maximum set by law. <br />APR 24 1985 <br />57 <br />eacE <br />Ib. E � <br />