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W <br />ON MOTION by Commissioner Bird, SECONDED by Com- <br />missioner Lyons, the Board unanimously (4-0) closed <br />the public hearing. <br />MOTION WAS MADE by Commissioner Lyons, SECONDED by <br />Commissioner Bowman, to adopt Resolution 86-84 pro- <br />viding for construction of water improvements at <br />River Shores Estates at 12% interest and also to <br />approve the remaining staff recommendations 2 'through <br />5 as set out in memo dated September 17, 1986. <br />Commissioner Bird felt a bit uncomfortable with the 12% <br />interest rate since the prime is now 71%, but he realized this <br />can change. <br />Director Pinto felt it must be kept in mind that we have a <br />self-supporting utility department; we have to lay the cash out <br />for that amount of time, and we would rather not do that. He <br />noted that the people do have the ability to borrow elsewhere. <br />George Kulzycki of River Shores wished to have some idea of <br />when all the steps in the required process can be completed and <br />they can get water. <br />It was explained that the Motion made would adopt the <br />preliminary assessment roll, authorize the engineering services <br />needed for design, as well as authorize advertising for bids and <br />proceeding with construction. Utilities Director Pinto estimated <br />they could have water in about three months. <br />THE CHAIRMAN CALLED FOR THE QUESTION. <br />It was voted on and carried unanimously (4-0) <br />73 <br />