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BOND RESOLUTION AND AWARD RESOLUTION TO REFINANCE TWO BOND ISSUES <br />The Board reviewed memo from OMB Director Joe Baird dated <br />November 18,1992: <br />TO: Members of the Board <br />of County Commissioners <br />DATE: November 18, 1992 <br />SUBJECT: BOND RESOLUTION AND AWARD RESOLUTION TO <br />REFINANCE THE $9,855,000 AND $3,655,000 BOND ISSUE <br />FROM: Joseph A. Baird <br />OMB Director % <br />The desired present savings value of $400,000 was reached and the bonds were sold on <br />Tuesday, November 17, 1992 to refinance the $9,855,000 and $3,655,000 bond issues. All <br />documents (i.e. bond resolution and award resolution) are still being finalized and will not <br />be available by the agenda deadline but will need to be approved by the -Board of County <br />Commissioners on November 24, 1992. <br />Director Baird reported that gross savings from refinancing at <br />the present lower interest rates will be $599,895.00; the present <br />value is $419,661.00. <br />Arthur H. Diamond of Fishkind & Associates, the County's <br />financial adviser, presented a history of the bonds and their <br />respective interest rates. <br />Edwin Bulleit, William R. Hough & Company, provided the Board <br />with materials that summarized the refinancing, a copy of which is <br />on file in the office of Clerk to the Board. He expressed pride in <br />the fact that they were able to hit the market at just the right <br />time, resulting in optimal savings to the County. <br />33 <br />V 4 1992 BOOK F-;, c P L <br />