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0. Refinancing SR60 Sewer and Water Bonds <br />The Board reviewed memo of the OMB Director: <br />TO: Members of the Board <br />of County Commissioners <br />DATE: December 1, 1987 N�C�� <br />N �'k�1/ COU 10 <br />SUBJECT: REFINANCING ROUTE 60, SEWER <br />AND ROUTE 60 WATER BONDS <br />FROM: Joseph A. Baird <br />OMB Director <br />Staff is requesting permission to have M. G. Lewis, County <br />Financial Advisor, review alternatives and negotiate with banks to <br />refinance the Route 60 Water Assessment Bonds and the Route 60 Sewer <br />Assessment bonds. Presently these bonds are privately placed <br />with Florida National Bank and the interest rate has been <br />increased to 11 3/4% from 10% due to gross up provisions. The <br />county only has the ability to charge property owners 10%, leaving <br />1 3/4% which must be absorbed. <br />Outstanding principal balance is $620,000 on the Route 60 <br />Water Assesment and $3,750,575 on the Route 60 Sewer Assessment. <br />ON MOTION by Commissioner Bird, SECONDED by Commis- <br />sioner Eggert, the Board unanimously authorized staff <br />to have M. G. Lewis, County Financial Advisor, review <br />alternatives and negotiate with banks to refinance <br />the Route 60 Water Assessment Bonds and Sewer Assess- <br />ment Bonds. <br />P._Budget Amendment_#004_- Radiological_ Emergency Preparedness <br />The Board reviewed memo of Budget Analyst Miller: <br />DEC � 23 PUCK 70 PAGE270 <br />