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rate increase or some method of increasing revenues - possibly <br />further expanding of the system in a more rapid fashion. Reduc- <br />tion of costs really isn't an option at this point, but when we <br />do raise that rate structure, those funds necessary to support <br />the North County very easily could be included in the overall <br />rate structure. <br />The Chairman felt there is some misunderstanding as to where <br />we are and what was recommended, and the key is that particular <br />acquisition is contingent upon acceptable financing. He assured <br />that Board that they will be made fully aware of exactly what the <br />terms of the financing will be, and whether the terms will be <br />acceptable or not will be a decision of this Board. <br />Utilities Director Pinto informed the Board that he has <br />talked to Mr. Hess from the water company, who is also a banker, <br />and told trim we were taking a look at those numbers. Mr. Hess <br />fully understands that and says whatever the numbers have to be, <br />that is what it will come out, and since the principal owner of, <br />the water company is the principal owner of the development <br />company, they would be the ones paying the major part of that <br />surcharge. <br />SOUTH COUNTY FIRE DISTRICT <br />The Chairman announced that immediately upon adjournment, <br />the Board would reconvene acting as the District Board of Fire <br />Commissioners of the South County Fire District. <br />Those Minutes are being prepared separately. <br />DOCUMENTS TO BE MADE.A PART OF THE RECORD <br />Interlocal Agreement between Bruce H. Colton, State Attorney <br />for the 19th Judicial Circuit, and Indian River, Martin, <br />Okeechobee, and St. Lucie Countys, having been fully executed and <br />JUL 2 6 1988 <br />63 BOOK 73 F,,A . 309 <br />