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PURCHASE OPTION - BENT PINE UTILITY COMPANY The Chairman reviewed memo of Utilities Director Pinto: TO: Board of County Commissioners DATE: Jul" 28, 1986 THRU: L.S. Thomas, Acting Administrator FROM: Terrance G. Pinto, Director of Utility Services SUBJECT: PURCHASE OF BENT PINE UTILITY COMPANY 4 BACKGROUND The Bent Pint Utility Company Water and Wastewater System Franchise has acknowledged the seventh year of the franchise agreement. Resolution 79-111, Section XIV, Escrow Charges states that 11.., the County after notice from Corporation shall have the right to purchase the Corporations water and sewer plants... 11 On June 30, 1986 the Corporation presented the Utility department with the purchase option notice. RECOMMENDATION Utility staff has reviewed the existing franchise agreement and feel at this time that it is not in the best interest of the County to purchase the water and wastewater system. Utility staff asks the Board of County Commissioners to approve the attached letter notifying the Corporation of the same and for the Corporation to enter into a new franchise agreement as stated in Resolution 79-111. July 28, 1986 0 Bent Pine Utility Company Mr. James L. Harris 255 S. Orange Avenue Suite 900 Orlando, FL 32801 RE: PURCHASE OPTION OF THE BENT PINE UTILITY COMPANY Dear Mr. Harris: This is to acknowledge the receipt of your letter dated June 30, 1986, regarding the purchase of the Bent Pine Water and Wastewater System. At this time we feel that it would not be in the best interest of the County to purchase the system. We will ask that you file a new franchise agreement with the County as stated in Resolution 79-111. Please do not hesitate to contact me at telephone 567-8000, extension if you have any questions or comments. Sincerely, TERRANE C. PIKT01 Director of Utility Services 73 AUG 6 1905 BooK 65 F,�. c,344