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)SEP <br />OMB Director Baird concurred that we should add a clause to <br />their contract requiring Errors & Omissions and Liability <br />insurance. <br />It was decided to vote on the remaining items and deal with <br />that question separately. <br />Commissioner Lyons inquired why the interest rate is set at <br />120, and Assistant Utilities Director Barton explained that at a <br />earlier meeting it had been agreed to set the rate once a year <br />instead of continuing to react to the market. <br />Chairman Scurlock concurred and noted that actually the <br />County doesn't want to be in the finance business. <br />ON MOTION by Commissioner Lyons, SECONDED by Com- <br />missioner Bird, the Board unanimously adopted <br />Resolution 86-56 providing for the construction of <br />certain water improvements in -Glendale Lakes Sub. <br />at an interest rate of 12% and approved staff <br />recommendations Nos. 1, 2, 3 and 5 as set out in <br />the above memo dated August 19, 1986. <br />35 <br />BOOK 6 o mU- 65 <br />