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With regard to financing, Commissioner Scurlock felt we are <br />probably in the best position we could be with the lower interest <br />rates, and Administrator Chandler agreed that the timing couldn't <br />be better with the market situation. We are projecting a 7-1/20 <br />interest rate. <br />Chairman Bird anticipated that we will get some excellent <br />bids on the construction of the golf course, and noted that the <br />timing is good also with regard to the use of effluent. He <br />commended Director Komarinetz on the comprehensive report. <br />SANDRIDGE GOLF CLUB - PHASE II <br />CONSTRUCTION SCHEDULE <br />FEBRUARY 1, 1991 <br />o REVIEW FINANCIAL POSITION <br />TO DECIDE WHETHER TO EXPAND NO <br />I <br />YES <br />I <br />MARCH 15, 1991 <br />o ARCHITECT BEGINS DESIGN <br />JUNE 15, 1991 <br />o OBTAIN FINANCING <br />o ARCHITECT COMPLETES DESIGN <br />SEPTEMBER 1, 1991 <br />o OBTAIN PERMITS FOR <br />CONSTRUCTION <br />o ADVERTISE FOR CONSTRUCTION <br />BIDS <br />ONE MONTH <br />OCTOBER 15, 1991 <br />o RECEIVE BIDS <br />FIFTEEN DAYS <br />. I <br />NOVEMBER 15, 1991 <br />o AWARD BIDS <br />FIFTEEN DAYS <br />I <br />DECEMBER 15, 1991 <br />o BEGIN CONSTRUCTION <br />I• <br />APRIL 15, 1992 <br />o CONSTRUCTION COMPLETED <br />o FINAL GRASSING COMPLETE <br />I <br />NOVEMBER 1, 1992 <br />o OPEN FOR PLAY <br />45 <br />