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i <br />resolution is to have the jai alai and race track funds pledged <br />to theileast extent possible to support the golf course, the goal <br />being that the golf course would be an entirely self-supporting <br />enterprise fund of the County. Attorney Brandenburg advised that <br />the proposed resolution meets all the Board's objectives and <br />recommended its adoption. <br />Vilce Chairman Scurlock wanted to make sure that whatever <br />amountlof bonds are eventually issued will have an associated <br />debt service with it. He felt the Golf Course Committee is going <br />to have to go back to the drawing board and using the National <br />Golf Course study figures, refine the rate structure based on the <br />actualfinancing that is put in place. He understood, however, <br />that all this resolution addresses is the maximum amount of bonds <br />that could be issued, not the structure of those bonds nor the <br />actua I lamount. <br />issioner Bird wanted it clearly understood why the $2.6 <br />millions figure was being changed to $4.2 million because he <br />didn't Want anyone thinking that the estimated cost of the golf <br />course Ihad increased so drastically in such a short time. <br />inistrator Wright emphasized that all we are doing now is <br />creating the vehicle to pursue all financial alternatives. <br />ON MOTION by Commissioner Bird, SECONDED by. <br />Commissioner Bowman, the Board approve unanimously <br />adopted Resolution 85-78, as amended, and authorized <br />the County Attorney to file for validation in this <br />matter. <br />63 <br />JUL 17 1985 Boos:E 5 <br />