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MAY 19197 BOOK 68 PAGE 333 North Beach Water has made an offer which is being analyzed, and the Chairman anticipated bringing the information to the Board sometime in the first part of June. Since he and Director Pinto were under discussion relative to acquiring North Beach Water, they could not recommend adding to the value of that system. Director Pinto clarified that the normal process now is' that the lines are deeded to us; however, the way the North Beach Water Company franchise is set up is not the way it should have been done. His concern is that under the new tax taw, whenever property and lines are deeded to a private utility, they have to pay a tax and that cost goes through to the customers. If these were deeded to the county, the customers wouldn't have that cost. Since we already had,the agreement, however, this was the way it. had to be done so that the IRS wouldn't say we were just circum- venting taxes. Commissioner Eggert stressed that she wished the agreement to state that these will revert back without cost, and Commissioner Bird agreed. Director Pinto confirmed that is what we are trying for. ON MOTION by Commissioner Eggert, SECONDED by Com- missioner Bowman, the Board unanimously authorized the County Attorney's office to prepare the necessary paperwork to deed the lines to North Beach Water Company with the understanding that they will revert back to the County at no cost. 13TT 1T 1 QF Si LE IS ON FILE 3;N THE OFFICE OF THE CLEW TO THE BOA'S Q. Florida Contraband Forfeiture Quarterly Report ON MOTION by Commissioner Eggert, SECONDED by Com- missioner Wheeler, the Board unanimously accepted the Florida Contraband Forfeiture Quarter Report for the period ending March 31, 1987, from the office of Sheriff Dobeck, as follows: 16