3/23/1993 - Laserfiche WebLink

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ON MOTION by Commissioner Adams, SECONDED by Commissioner Eggert, the Board unanimously awarded Bid #3071 for West Central Re -Use Transmission Main to Derrico Construction in the amount of $1,049,277.00, as recommended by staff. SAID DOCUMENT IS ON FILE IN THE OFFICE OF CLERK TO THE BOARD ARBITRAGE REBATE CALCULATIONS The Board reviewed memo from OMB Director Joe Baird dated March 17, 1993: TO: Members of the Board of County Commissioners DATE: March 17, 1993 SUBJECT: ARBITRAGE REBATE CALCULATIONS FROM: Joseph A. Baird OMB Director DESCRIPTION AND CONDITIONS Indian River County has received an estimated fee from Coopers & Lybrand to prepare arbitrage rebate calculations at a cost of $2,500 per bond issue for the period ending September 30, 1992 and no more than $2,200 per issue for the periods ending September 1993 and September 1994. Based on the estimated arbitrage rebate calculations, the following bond issues listed below will cost $4,700 each: $3,655,000 1987 Capital Improvement Revenue Bond $8,240,000 1988 S.W.D.D. System Revenue Bond $6,510,000 1989 Water and Sewer Revenue Refunding Bond $5,900,000 1989 General Obligation Bond $ 720,000 1990 Special Assessment Bonds $6,075,000 1989 Special Assessment Bonds Rebate calculations for the two bonds below will cost only $2,200: $9,205,000 1991 Water and Sewer Revenue Bond $6,015,000 1992 Recreation Revenue Bond Staff had estimated the cost to be $4,500 per bond issue. There are not many, if any, options since we cannot do this internally because of the high cost to purchase a computer program and the specialized knowledge that is required. RECOMMENDATION Staff recommends that the Board of County Commissioners authorize the Chairman to sign the acknowledgment letter from Coopers & Lybrand at a total cost of $32,600 to prepare the Arbitrage Rate Calculations. 71 'gr ' MAR 2 ° BOOK 89 P UE x.67