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77 <br />TO: Board of County Commissioners <br />FROM: Charles P. Vitunac, County Attorney <br />DATE: August 30, 1988 <br />RE: ADOPTION OF TEFRA RESOLUTION RE: PROFOLD <br />INC.'s INDUSTRIAL DEVELOPMENT BONDS <br />Public Hearing - Board Meeting 9/6/88 <br />The Board of County Commissioners recently approved the <br />Issuance of industrial revenue development bonds to assist <br />Profold, Inc. in its move to Indian River County. Federal <br />---law requires that a public hearing be held regarding the <br />issuance of the bondst which are in the amount of $973,060.' <br />The proposed resolution has been advertised properly and is <br />before the Board today for a public hearing at which members <br />of the public may comment. - <br />Staff recommends approval of the resolution. <br />The Chairman asked if anyone present wished to be heard. <br />There were none, and he thereupon declared the public hearing <br />closed. <br />ON MOTION by Commissioner Eggert, SECONDED by Commis- <br />sioner Bird, the Board unanimously (4-0)adopted Resolu- <br />tion 88-55 approving the issuance of industrial develop- <br />ment bonds for Profold, Inc., in compliance with the <br />requirements of the Internal Revenue Code. <br />77 <br />BOOK 74 pmx 77 <br />