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DEC <br />8 19 <br />BOOK <br />70, �,n� 329 <br />He felt this <br />is a matter of form only and believed <br />all that is <br />holding it up is having the FmHA waive the parity provisions, <br />which they normally would do. We expect to get the rating from <br />them by tomorrow morning. If we don't get that rating, which is <br />extremely unlikely, then we don't have a deal. Mr. Diamond <br />expressed his appreciation of the county's participation, which <br />he noted has done nothing but reaffirm his belief that this <br />Commission is a very good Commission and this is an excellent <br />county. <br />Burt Saunders, Assoc. Vice President, A. G. Edwards E Sons, <br />advised that they are excited to be working with the county along <br />with Raymond James & Assoc. and thanked not only the Chairman, <br />who has been extremely helpful, but OMB Director Baird, Utilities <br />Director Pinto, County Attorney Vitunac, and everyone else for <br />their assistance. Mr. Saunders confirmed that the deal is <br />contingent on obtaining the MIG I rating, but he did not <br />anticipate any difficulty with it at all. Mr. Saunders then <br />introduced Fred Pauzar, also of A. G. Edwards, who is very <br />involved in marketing these notes, and can elaborate on the <br />interest rate and the discount. <br />Mr. Pauzar also paid his compliments to the county staff and <br />believed the Commission can be proud of them. Mr. Pauzar <br />informed the Board that since the crash of the stock market on <br />October 19th, they have seen a total of 11 major firms in the <br />municipal finance business pull out and just decide they don't <br />want any part of it any more, which he felt says a lot about the <br />current market conditions. He advised that his firm is confident <br />enough in the quality of Indian River County and the name of <br />Indian River County to be comfortable in committing to buy 9.2 <br />million worth of bonds when they, in fact, have sold only about <br />113 of the bonds. Mr. Pauzar felt this deal is something the <br />county can point to with a fair amount of pride. It is his <br />understanding from the manager of their Florida bond trading desk <br />in West Palm Beach that this is the largest deal of its type ever <br />82 <br />