Laserfiche WebLink
TO: Honorable Members of <br />the Board of County <br />Commissioners <br />FROM: Joseph A. Baird <br />OMB Director <br />DATE: April 1, 1987 <br />SUBJECT: PERMISSION TO PROCEED <br />IN OBTAINING FINANCING <br />The Office of Management and Budget is requesting permission <br />to proceed in obtaining financing for the following: <br />CAPITAL PROJECTS <br />$1,587,000 The shortfall in the construction <br />of the Sheriff's Building and <br />Communication Center. <br />$1,218,000 Shortfall in construction of Phase <br />II of Jail - Minimum Security <br />Facility. <br />$ 350,000 Property acquisition and design <br />costs for future office <br />requirements. <br />$3,155,000 PROJECT COSTS <br />THE AMOUNTS QUOTED DO NOT INCLUDE INTEREST EXPENSE, <br />INSURANCE COSTS OR BOND DISCOUNT. <br />It is estimated the total bond issue will be approximately <br />$3,500,000. July 5, 1985 we validated the issuance of up to <br />$25,000,000 in bonds of which half -cent sales tax revenue was to <br />pay the debt service. The County has issued $9,855,000 in bonds <br />since the validation leaving sufficient funds to accommodate the <br />additional financing. M.G. Lewis will be the underwriter on the <br />bond issue (See attached agreement). <br />RECOMMENDATION <br />Staff would like authorization to proceed in obtaining <br />financing. <br />ON MOTION by Commissioner Bird, SECONDED by Com- <br />missioner Eggert, the Board unanimously granted <br />permission for staff to pursue obtaining financing <br />for the capital projects listed above. <br />REQUEST TO RENT JET SINS ON WABASSO_CAUSEWAY (K_ HEALY) <br />Commissioner Bird reviewed the following memo: <br />APR 7 1987 33 <br />BOOK U, 7 u""" 80, <br />