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AUG <br />22 1989 <br />RooK ! ,-� FgcE lIj <br />come up with $2.9 million. <br />The acreage is left blank <br />to make <br />sure that the surveyors get it exactly, and the number of nearby <br />wetland acres will be inserted at that time also. The number of <br />years has been left blank also. If the Board is interested in <br />just a one-year millage rate, there won't be any bonds at all. <br />The only financing would be an internal borrowing which the OMB <br />Director would do from some funds or even a bank note for less <br />than one year. The County wouldn't have a bond issue; we might <br />have a simple note. However, for the purpose of the bond <br />referendum, we could insert within 3 to 40 years or whatever the <br />Board prefers, and keep our options wide open. Or, if the Board <br />desires, we can limit our options right now by this type of <br />language. <br />Grover Fletcher, President of the McKee Jungle Gardens <br />Preservation Society, believed that it is the public's perception <br />at this point that this will be a one-time levy, and didn't feel <br />we should shift from that position now. <br />Commissioner Scurlock explained that we would not be <br />shifting; it still would be a borrowing at a local bank instead <br />of a bond issue for one year. <br />out for a bond issue. <br />It would cost us more if we went <br />Administrator Chandler felt the point needs to be clarified <br />that it would be a one-time levy to cover that expense regardless <br />of the manner in which we finance it, whether it be through a <br />bank, private placement, or whatever. <br />Commissioner Bird understood then that whatever millage is <br />required will fall in one tax year and is not to exceed $2.9 <br />million. <br />Commissioner Eggert understood that we would go out and <br />borrow next year in 1989-90 to pay for this purchase, if it is <br />approved, and then the tax bill for 1990-91 would show all the <br />millage required. <br />38 <br />_I <br />