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- M <br />INDIAN RIVER COUNTY, FLORIDA <br />INTER -OFFICE MEMORANDUM <br />Date: July 6, 1993 <br />To: James E. Chandler <br />County Administrator <br />Thru: Terrance G. Pinto <br />Director of Utility Services_ <br />From: Harry E. Asher <br />Assistant Director of Utility Services <br />(GDUmemo) <br />Subject: Acquisition of General Development Utilities, Inc.(GDU) <br />Franchised Area of Vero Highlands/Shores <br />Indian River County has received an offer of sale from General <br />Development Utilities, Inc.(GDU). Before Indian River County can <br />purchase General Development Utilities, Inc. it must comply with <br />Florida Statutes, Section 125.3401, as stated below. It is the <br />intent of this report to assist the County with this compliance. <br />Section 125.3401 - Purchase or sale of water or sewer utility by <br />county. <br />No County may purchase or sell a water or sewer utility that <br />provides service to the public for compensation until the <br />governing body of the County has held a public hearingon the <br />purchase or sale and made a determination that the purchase or <br />sale is in the public interest. In determining if the purchase <br />or sale is in the public interest, the County shall consider, at <br />a minimum, the following: <br />1. The most recent available income and expense statement for <br />the utility; (Included in 12/31/92 Annual Report Attached) <br />(Water -Page W -11W-2; Sewer -Page S -2,S-3) <br />2. The most recent available balance sheet for the utility, <br />listing assets and liabilities, and clearly showing the <br />amount of contributions in aid of construction and the <br />accumulated depreciation thereon; (Included in the 12/31/92 <br />Annual Report Attached)(Assets-Water-Page W -50,W-6; Sewer - <br />Page S-4,S-5)(Contributions In Aid - Page 9) <br />3. A statement of the existing Rate Base of the Utility for <br />Regulatory purposes; (Attached - As submitted with Rate <br />Filing) <br />4. The physical conditions of the utility facilities being <br />purchased or sold; <br />33 <br />AUGL_ 17 1993 BOOK 9® F,,r X25 <br />