3/3/1992 - Laserfiche WebLink

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'MOTION WAS MADE by Commissioner Wheeler, SECONDED by Commissioner Bowman that recommendation as set out the Board approve staff's in the above memo. Under discussion, Commissioner Bird asked how it would work if the Motion passes and we did a bond issue tomorrow. Director Baird explained that we would take the cost of money for us and add 2% and that would be a fixed rate for the term of the bond. Commissioner Wheeler pointed out that there are some spin-off advantages when you deal with the County. You don't have to furnish a financial statement every year, which the banks require, and you don't have to go and sit down with loan officers and fill out endless applications. Commissioner Bird just had hoped that we could reduce the 12% rates for the existing loans, but understood that we don't have the ability to do that. THE CHAIRMAN CALLED FOR THE QUESTION. The Motion was voted on and carried unanimously. UTILITY FINANCING - IMPACT FEES OMB Director Joe Baird presented the following memo dated 2/26/92 regarding the financing of utility impact fees: OFFICE OF MANAGFMUM AND BUDGET TO.. Members of the Board of County Commissioners DATE February 26, 1992 SUBJECT: UTIIM FINANCING - R"ACT FEES FROM: Joseph A. Bair OMB Director DESCRIPTION AND CONDITIONS At the meeting of December 17, 1991, the Board of County Commissioners approved the financing of impact fees and distribution lines over a ten year period for property owners affected by non voluntary assessment projects. The Board asked staff to address at a later date the appropriate funding mechanisms that would be used to finance the impact fees and other assessments and whether other property owners impact fees should be financed for ten years as well. After much consideration, staff recommends that we expand the ten year financing to include county built projects and existing homes. All others will have five year financing, 29 M AR 0 3 1992 Boa 83" F, ,,r. "i 12-