Laserfiche WebLink
Utilities Director Pinto confirmed that this aspect has been <br />discussed specifically, and they will take the life of each part <br />of the project. and have.a weighted average. He stated that the <br />closing of the second cell should be self-funded; however, you <br />have to fund the closing of the first cell now; actually, you are <br />really going to build it into the rate, but you need the cash up <br />front to do it with. <br />Chairman Scurlock emphasized that on top of that, he wanted <br />to do a surcharge because you don't know what those closure costs <br />are going to be in the future; they seem to keep going up and up, <br />and that is an unknown. <br />Commissioner Eggert asked if there is a time limit on the <br />use of, any unused portion of the amount of bonds validated, and <br />Mr. Sieck advised that can be handled several ways - some issues <br />will cancel the unused portion, but others will leave it there. <br />He confirmed that once the issue has been authorized by the Board <br />and validated by the court, there is no statute of limitations. <br />ON MOTION by Commissioner Eggert, SECONDED by Com- <br />missioner Bird, the Board unanimously adopted Resolu- <br />tion 88-1 providing for the issuance of not exceeding <br />$11,000,000 Solid Waste Disposal System Revenue Bonds. <br />RESOLUTION NO. 88-1 <br />A RESOLUTION PROVIDING FOR THE ACQUISITION AND <br />CONSTRUCTION OF A SOLID WASTE DISPOSAL PROJECT <br />OF THE INDIAN RIVER COUNTY, FLORIDA SOLID WASTE <br />DISPOSAL DISTRICT; PROVIDING FOR THE ISSUANCE <br />OF NOT EXCEEDING $ 11,000,000 SOLID WASTE <br />DISPOSAL SYSTEM REVENUE BONDS, SERIES 1988, OF <br />SUCH DISTRICT TO PAY THE COST OF SAID PROJECT; <br />PROVIDING FOR THE RIGHTS OF THE REGISTERED <br />OWNERS OF SAID BONDS; PROVIDING FOR THE PAYMENT <br />THEREOF; MAKING CERTAIN OTHER COVENANTS AND <br />AGREEMENTS IN CONNECTION WITH THE ISSUANCE OF <br />SAID BONDS; AND PROVIDING AN EFFECTIVE DATE. <br />BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF <br />INDIAN RIVER COUNTY, FLORIDA ACTING AS THE GOVERNING BODY OF THE <br />RESOLUTION 88-1 IS ON FILE IN THE OFFICE OF CLERK TO THE BOARD <br />IN ITS ENTIRETY. (SEPARATE FILE - SOLID WASTE` DISPOSAL DISTRICT) <br />71 <br />FEB 16 1988 <br />BOOK `0 FA,F 889 <br />