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pr— <br />E E 14 `d989 <br />BOOK 76 f'a:r,E 107 <br />of $450,000 for a 2 -year period at 9% interest. The total impact <br />in terms of cost would be $1,586,500, which includes interest in <br />the amount of $121,500, as well as $15,000 for our closing costs <br />and any survey costs. There are sufficient funds in the current <br />year's budget to cover the expenses for the first year. <br />Obviously, during the next two budget years, we will be required <br />to budget bonds for the balance of the payments. Since we cannot <br />pledge ad valorem taxes, we have indicated to Mr. Ansin that we <br />would pledge non ad valorem sources. <br />Commissioner Eggert asked if we have more funds than what is <br />required for the $500,000, and Administrator Chandler explained <br />although we have that potential, at this point in time we feel we <br />probably should not go above that amount this year. If later on <br />we are able to work that out, we could work out an agreement with <br />Mr. Ansin if necessary. <br />Commissioner Bird encouraged his fellow Commissioners' <br />support of this as he felt we are extremely lacking in <br />recreational facilities in the southwest part of the county. <br />This is a beautiful piece of property in an excellent location <br />for which we already have a conceptual master plan for a <br />tremendous number of recreational activities. He believed the <br />price is very reasonable and that we should purchase this <br />property while it is still available. <br />MOTION WAS MADE by Commissioner Eggert, SECONDED by <br />Commissioner Bird, that the Board approve the <br />purchase of the Ansin property in the amount of <br />$1,450,000 payable in the terms as set out in the above <br />letter. <br />Under discussion, Commissioner Scurlock said he would like <br />to see us come up with a timetable for making some actual <br />improvements even if they are minimal, such as $8,000 for a <br />jogging trail. <br />36 <br />