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JUL 10 1995 <br />BOOK 61 F°„E 460 <br />assessment rolls to the Clerk of the Board for <br />collection; and established the interest rate at <br />1% over prime as of the date of approval, or 1110: <br />#8308 - <br />16th <br />Place <br />W. of 6th Ave. <br />$10,652.81 <br />#8324 - <br />46th <br />Ave. <br />bet, 8th St'. & 9th PI. <br />$21,841.41 <br />#8326 - <br />51st <br />Ave. <br />N. of Walker Ave. <br />$27,937.40 <br />(Copy of said Final Assessment Rolls are on file in the Office <br />of the Clerk.) <br />RESOLUTION AUTHORIZING REFUNDING OUTSTANDING CAPITAL IMPROVEMENT <br />BONDS UP TO $25,000,000 <br />Attorney Brandenburg noted that the Board recently hired <br />some investment banker consultants, and they have advised that <br />the way to approach some of our capital improvements in the <br />future is to refinance the outstanding bond issues that have a <br />pledge of the jai alai fronton monies in order to free up those <br />monies and in their place pledge the sales tax funds. This would <br />give the County the ability to issue additional bonds for the <br />projects currently planned on our capital improvements program, <br />plus the flexibility of adding other projects in the future. The <br />reason for the wording "up to $25,000,000" is so that when the <br />County has a project it wishes to add to its capital improvement <br />budget, it will not be necessary to go through another validation <br />etc., but just issue another series of bonds with the same <br />pledges, the same covenants, etc. This will save money re bond <br />counsel fees as well as allowing entrance into the market at the <br />right time. <br />Administrator Wright confirmed that this is just intended to <br />cut the red tape; the Board still makes the decision as to what <br />projects they want to borrow money for. <br />Commissioner Wodtke noted that we apparently are going to <br />refund the 1980 and 1981 capital improvement bond series, and it <br />doesn't affect the Landfill or the Beach Bonds. <br />48 <br />M <br />_I <br />