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SEP 18 1955 <br />BOOK L " <br />development along with redevelopment in the community. A side <br />benefit would be the improvement of some roads as part of the <br />construction plan to the tune of $1 -million. He felt that if we <br />receive the support of the Gifford community, then we are on our <br />way. Basically, what we are doing is the putting ourselves in <br />the position to issue the $8.2 million, but we still have time to <br />say no. This is the remaining money that is available from the <br />original 1972 commitment of $11.8 million for wastewater to <br />Indian River County at 5% interest. Commissioner Scurlock <br />emphasized, however, that there is a deadline as far as those <br />monies being available. <br />Commissioner Bird felt that it is important that we are <br />meeting with the residents of Gifford to explain the many <br />opportunities to be gained, but pointed out once these <br />improvements are in place and the system is available, they will <br />be expected to connect to it and pay a charge for that <br />connection. <br />ON MOTION by Commissioner Scurlock, SECONDED by <br />Commissioner Bird, the Board unanimously retained <br />the firm of Rhoads & Sinon as bond counsel for the <br />$8.2 million FmHA bond issue for the Gifford <br />wastewater project under the terms of their Letter of <br />Agreement dated 9/4/85; contingent upon approval of <br />utilization of FmHA commitment funds for the Gifford <br />Sewer project and execution of the FmHA Letter of <br />Intent to meet conditions. <br />52 <br />