7/21/1992 - Laserfiche WebLink

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s JUL 211992 ALTERNATIVES AND ANALYSIS Since the final assessment to the benefitted owners is less than the preliminary assessment roll, the only alternative presented is to approve the final assessment rolls. RECOMMENDATION It is recommended that the final assessment roll and the "As -Built Resolutions" for the paving of the above mentioned road be approved by the Board of County Commissioners and that it be transferred to the Office of the Tax Collector for recording in the "Assessment Lien Book" and for collection. MOTION WAS MADE by Commissioner Bowman, SECONDED by Commissioner Scurlock, to adopt Resolution No. 92- 104 certifying "As -Built" costs for certain paving and drainage improvements to Frangipani Drive between CR510 and Magnolia Lane in Oceanaire Heights Subdivision, as recommended by staff. Under discussion, Commissioner Scurlock asked, and County Administrator Jim Chandler responded that the County's current interest rate is 9-3/4 percent, which was set last fall. Commissioner Scurlock pointed out that the current municipal interest rate is about 6 percent. He recounted other discussions when he suggested that the County could issue debt at a low affordable interest rate and finance capital improvements in our county by going into the market and borrowing money. He acknowledged that staff did not approve of that plan but he wanted to restate his position because he still believes in the plan. Administrator Chandler responded that when the discussion took place, the conclusion was reached that our revolving fund has sufficient dollars to meet our need without having to borrow funds and accrue the expense of interest and issuance of- debt. He recalled that the direction of the Board was to review our rate of interest on an annual basis and to keep it down to a realistic number. Commissioner Scurlock realized that there has to be a limit on how often we look at interest rates and staff must grapple with that, but he felt the County should be more accommodating in these tough economic times. Administrator Chandler reminded the Board that we extended the payment period for utilities projects from five years to ten years. He agreed staff can take a closer look at other projects. THE CHAIRMAN CALLED FOR THE QUESTION. It was voted on and carried unanimously. RESOLUTION 92-104, WITH ASSESSMENT ROLL ATTACHED IS ON FILE IN THE OFFICE OF CLERK TO THE BOARD 27 BOOK C 1.6 Ft1�E