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we would get it at 8.5% or less, and he figured that was a little <br />on the high side, and they could look at paying 9.5%. <br />Commissioner Scurlock pointed out that in this negotiated <br />deal, we are anticipating a rate in the range of 8% to 8.5%, <br />which is for the full 10 year period. He noted that Sun Bank's <br />proposal was 9.5% for 10 years. <br />ADDITIONAL STREETLIGHTS FOR GIFFORD STREETLIGHTING DISTRICT <br />The Board reviewed the following memo dated 5/7/90: <br />TO: James E. Chandler, <br />County Administrator <br />James W. Davis, P.E., <br />Public Works Director VI— <br />Additional Street Lights for <br />Gifford Street Light District <br />'FROM: <br />SUBJECT: <br />DATE: May 7, 1990 <br />DESCRIPTION AND CONDITIONS -- <br />Ralph Lundy and representation from the Gifford Street Light <br />District are requesting additional street lights at the <br />following locations; <br />1) 28th No. of Court North of N. Gifford Road 3 Lights <br />(vicinity of Gifford Middle 6 and Middle <br />7 Schools),- City of Vero Beach Utilities <br />Service Area <br />2) 43rd Avenue - 200' North of 45 Lane 1 <br />FPL Service Area <br />3) North Gifford Road between 35th Avenue 1 <br />and 32nd Avenue <br />(Vero Beach Service Area) <br />The City of Vero Beach Electrical Engineering Dept. <br />recommends 250 Watt (27500 Lumens) lights along 28th Court <br />at a cost of $13.85 each/month and a 100 Watt lamp along <br />45th Street at a cost of $7.70/month. <br />Existing poles are available. Florida Power and Light Co. <br />recommends a 100 watt lamp at 43rd Avenue at a cost of <br />$7.48/month. The total yearly cost to add the five lights <br />is $680.76. <br />ALTERNATIVES AND ANALYSIS <br />The above additional lights will increase the typical <br />Gifford Street Light District assessment by approximately <br />$.12 per single family dwelling. <br />RECOMMENDATIONS AND FUNDING <br />Staff recommends that the additional five lights be <br />installed. Funding to be from the Gifford Street Light <br />District. <br />MAY 15199Q 21 ���K E,,uL U <br />