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N 4 - <br />General <br />-.JAN <br />General Services Director Sonny Dean took this opportunity <br />to introduce Fran Boynton, the County's new Purchasing Manager, <br />who commented on how happy she was to become a member of the <br />Indian River County team. <br />SELECTION OF UNDERWRITER FOR FINANCING OF UPCOMING CAPITAL <br />PROJECTS <br />The Board reviewed the following memo dated 1/15/91: <br />TO: Members of the Board <br />._ of County Commissioners <br />DATE: January 15, 1991 <br />SUBJECT: SELECTION OF UNDERWRITER FOR FINANMG <br />FROM: Joseph A. Baird <br />OMB Director <br />DESCRIPTION AND CONDITIONS <br />Indian River County has several future capital projects that need to be financed in the near <br />future. Examples of these are the Septage/Sludge Facility, West County Wastewater <br />expansion, North County Water, other Utility expansions, and Golf Course Phase II. In <br />order to proceed with the financing, we must choose an underwriter. <br />Several underwriters have written letters expressing interest in doing business with Indian <br />River County; however, four companies have shown more interest than others. These firms <br />are: <br />' 1. A. G. Edwards, Inc. <br />2. Raymond James and Associates, Inc. <br />3. William R. Hough and Company <br />4. Prudential Bache <br />Staff would like permission to short-list the above mentioned four underwriting firms and <br />use the short-listed firms as a pool to choose the underwriters for each financing project. <br />Doug Scurlock, Art Diamond, James Chandler and I will negotiate with each firm and <br />choose the best for the project based on cost and experience. Each underwriter selection <br />will be brought to the Board of County Commissioners for final approval. <br />RECOMMENDATION <br />Approve the above process for selecting an underwriter for financing of upcoming capital, - <br />projects. <br />16 <br />