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RESOLUTION RE ISSUANCE OF LIBRARY_ BONDS_ AND REFERENDUM <br />Attorney Vitunac informed the Board that per instruction to <br />proceed with setting up the bond issue recommended in the Library <br />Report, he has prepared a Resolution authorizing issuance of <br />bonds not -to -exceed 8.2 million and the holding of a referendum <br />on September 2nd of this year. There is plenty of time to <br />schedule this referendum and advertise so the voters know what <br />the issues are. <br />MOTION WAS MADE by Commissioner Lyons, SECONDED <br />by Commissioner Bowman, to adopt Resolution 86-34 <br />authorizing the issuance of up to 8.2 million <br />General Obligation Bonds to expand the public <br />library system and also providing for a bond <br />referendum re same to be held September 2nd. <br />Commissioner Bird wished to be sure plans are under way to <br />educate the voters, and Commissioner Lyons assured him that the <br />two Friends of the Library Associations have gotten together on <br />this, and there will be an extensive public education program, On <br />top of that the Indian River Chamber of Commerce has indicated <br />its support and will make that known through its publication. <br />Commissioner Wodtke asked if there was any consideration of <br />the November ballot instead of September to allow more time, and <br />Commissioner Lyons stated they did talk about that, but it was <br />felt it is better to get it off and going right now. <br />Chairman Scurlock wished to point out that while the 8.2 <br />million is for a five year capital improvement program, the funds <br />have to be expended within three years because of the tax law; <br />so, there is a real possibility of not issuing all the 8.2 <br />million at the same time and carrying out the program in two <br />steps. <br />Commissioner Lyons emphasized the need to get this settled <br />23 <br />JUN 41986 BOOK 6 4 FAGE612 <br />