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3. The Indian River County Office of Management <br />and Budget is authorized to notify the Poughkeepsie Savings <br />Bank, FSB located at 21 Market Street, Poughkeepsie, New <br />York 12602 of Indian Rver County's consent to the reduction <br />in the amount of the Letter of Credit No. 1987-1015 to the <br />amount of $20,720.70. <br />This resolution was offered by Commissioner <br />and seconded by Commissioner Bird , and <br />Eggert <br />upon being put to a vote, the vote was as follows: <br />Chairman Gary C. Wheeler Aye <br />Vice Chairman Carolyn K. Eggert Aye <br />Commissioner Margaret C. Bowman Aye <br />Commissioner Richard N. Bird Aye <br />Commissioner Don C. Scurlock, Jr. Absent <br />The Chairman thereupon declared the resolution <br />duly passed and adopted this 19th day of December, 1989. <br />INDIAN RIVER COUNTY, FLORIDA <br />BOARD OF COUNTY COMMISSIONERS <br />By <br />Gary Crl Wheeler, Chairman <br />RELEASE OF CASH DEPOSIT ESCROWED BY HALE INDIAN RIVER GROVES <br />The Board reviewed memo from Attorney Collins: <br />TO: The Board of County Commissioners <br />FROM: Lv William G. Collins II - Assistant County Attorney <br />DATE: December 11, 1989 <br />SUBJECT: Request for Release of Cash Deposit from Escrow by <br />Hale Indian River Groves, Inc. <br />On September 5, 1989 Hale Indian River Groves, Inc. entered <br />into an agreement with Indian River County under which they <br />escrowed $55,940.60 as security for the construction of <br />required improvements as a condition of the issuance of a <br />Certificate of Occupancy for Phase I of a project known as <br />Hale Groves U.S. 1 Distribution Complex. <br />OEC, i LlooF 78 PAGE 704 <br />