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I am recommending that the firm of Rhoads & Sinon from <br />Harrisburg, Pennsylvania, be appointed our bond consel on this <br />one issue. Attached is a copy of the firm's biography and <br />history. <br />The firm shows a substantial activity in the FmHA loan area, <br />and members of the firm are also personally acquainted with <br />officials of the FmHA, thus being able to provide the County <br />with an accurate and timely sense of what the Federal <br />government expects from our County. <br />Furthermore, the firm has substantial resources in its <br />Harrisburg office which would be immediately available to <br />Indian River County through two local offices in Florida --one <br />in Boca Raton and the other here in Vero Beach. Both of these <br />offices are electronically connected to the local' firm's word <br />processing and computer equipment. <br />Finally, the price <br />submitted <br />by the firm is included' with <br />their letter <br />of <br />proposal, <br />which is attached to this <br />memorandum, <br />and <br />it is quite reasonable, being a fee of <br />approximately <br />$15,000 on a <br />$8.2 bond issue. My research <br />indicates that <br />the <br />standard <br />rate would be over $20,000 for <br />such an issue. <br />I respectfully request Commission approval of this selection. <br />Attorney Vitunac recommended the firm of Rhoads & Sinon for <br />the appointment as bond counsel for the $8.2 million loan offer <br />from the FmHA for the Gifford wastewater project. He explained <br />that approval of bond counsel would be contingent upon the <br />Board's approval of Item 11-A - Utilization of FmHA Commitment <br />Funds for Gifford Sewer Project - and, 11-C - Execution of FmHA <br />Letter of Intent to Meet Conditions. <br />Attorneys J. Clinton Scott and Robert H..Long, Jr. expressed <br />their pleasure in Rhoads & Sinon being recommended for this <br />appointment. <br />Commissioner Scurlock summarized the background of the <br />Gifford wastewater project and announced that a meeting will be <br />held next Monday night at the Middle 7 School to explain the <br />project, whereby $8.2 million is available for revitalizing and <br />expanding the Gifford system which, in turn, will encourage more <br />51 <br />;r -- <br />BOOK FAUr <br />SEP .i 8 1985 <br />