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TO: Board of County Commissioners <br />FROM: Charles P. Vitunac, County Attorney <br />DATE: July 27, 1988 <br />RE: NORTH BEACH WATER PURCHASE <br />Board Meeting - August 2, 1988 <br />The attached resolution begins the process by which the <br />County will sell revenue bonds to purchase the North Beach <br />Water System, as agreed to by the County in a contract dated <br />May 31, 1988. <br />The bond counsel has recommended that certain amendments be <br />made to that contract, and these will be brought back to the <br />Board shortly. The changes would allow the surcharge to be <br />higher than $13.00 per month per customer if that was <br />necessary to sell the lands or to make annual payments <br />thereafter. <br />Staff recommends approval of the resolution and permission <br />for staff to proceed with the necessary validation <br />proceedings incident to the sale of the bonds. <br />ON .MOTION by Commissioner Eggert, SECONDED by <br />Commissioner Wheeler, the Board unanimously (4-0) <br />adopted Resolution 88-44, providing for the purchase of <br />a subregional water treatment and distribution system <br />by Indian River County Florida; providing for the <br />issuance of not exceeding $4,000,000 water revenue <br />bonds, series 1988, of the County -to pay the cost of <br />a <br />said system; etc. <br />36 <br />noK 73 rv F347 <br />