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SEP 2 4 1991 <br />RESOLUTIONS - WATER 8 SEWER BONDS FOR SLUDGE TREATMENT FACILITY <br />County Attorney Vitunac informed the Board that these bonds <br />were sold yesterday; the proposed Bond Resolutions were just <br />delivered; and he hasn't read them, but Art Ziev, of Raymond <br />James & Associates, the underwriter, and our OMB Director Joe <br />Baird have reviewed these documents. <br />Director Baird reported that we sold the $9,205,000 bond <br />issue to finance the septage, sludge and grease facility, as well <br />as to take out the North Beach Water notes. Of this issue, <br />approximately 6.2 million was for the sludge, septage and grease <br />facility, and 3 million was for the North Beach Water Notes. The <br />average coupon was 6.450; the true interest cost was 6.6968. It <br />is a 25 year insured bond issue with a AAA rating. The long. <br />bond out to 2016 had a yield of 6.72%. <br />ON MOTION by Commissioner Scurlock, SECONDED by Com- <br />missioner Eggert, the Board unanimously adopted <br />Resolution 91-150, amending former Resolutions and <br />providing for terms and conditions upon which the <br />county may issue water and sewer revenue bonds, <br />ON MOTION by Commissioner Scurlock, SECONDED by Com- <br />missioner Eggert, the Board unanimously adopted <br />Resolution 91-151 awarding the $9,205,000 Water & <br />Sewer Bond issue to Raymond James & Associates and <br />approving the Bond Purchase Agreement. <br />62 <br />