Laserfiche WebLink
Attorney Vitunac advised that the attorney with GDU is in <br />the audience this morning to explain the technical changes that <br />they -want so they can standardize their statewide bond issues <br />with the same remarketing agent, the same trustee, and the same <br />terms and conditions. Staff's feeling is that it really should <br />have no effect whatsoever on the County, but it will help GDU. <br />Chuck Sieck, the County's bond counsel, has reviewed this at <br />the expense of GDU, and made some changes which GDU has agreed <br />to. <br />Commissioner Scurlock advised that the Finance Advisory <br />Committee has reviewed this and found no liability to the County. <br />They feel the restructuring and the modifications are in the best <br />interests of GDU for continuity of the system. Commissioner <br />Scurlock recommended approval of the appropriate resolution. <br />ON MOTION by Commissioner Scurlock, SECONDED by <br />Commissioner Eggert, the Board unanimously adopted <br />Resolution 89-55, accepting the resignation of <br />Citibank, N.A., as remarketing agent for the $4,000,000 <br />Indian River County, Florida, Variable Rate Demand <br />Utilities Revenue Bonds, Series 1983 (General <br />Development Utilities, Inc. Project) and appointing <br />Manufacturers Hanover Trust Co. as the new remarketing <br />agent for the bonds. <br />11 <br />JUN 6 9989 <br />!IN( i6 EnE.95 <br />