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City Of Sebastian - - <br />-. 1225 MAIN STREET a SEBASTIAN, FLORIDA 32958 <br />TELEPHONE (407) 589-5330 o FAX (407) 589-5570 <br />October 20, 1994 <br />53 <br />Mr. James Chandler <br />Indian River County Administrator <br />1940 25th Street <br />Vero Beach, FL 32960 <br />Dear Jim: <br />The City Council has authorized me to contact Indian River County and determine whether <br />or not the County would be amenable to a proposal from the City of Sebastian. This <br />proposal is in regards to the water distribution and wastewater collection systems of the City <br />utility system. <br />Our proposal includes the sale and transfer of all the assets of the City utility system and <br />establish a thirty (30) year franchise arrangement with the Indian River County Utility <br />Department to provide potable water distribution and wastewater collection for the City of <br />Sebastian. As you know, the City recently purchased the General Development Utility <br />(GDU) winch consists of water and wastewater treatment facilities. However, the County, <br />because of the size of its utility system can obtain economies of scale which are not available <br />to the City. It is our opinion, that the future needs of the citizens of Sebastian and the North <br />County area can best be served by a common single managed utility. In this regard, we <br />propose the following: <br />(1) Transfer of Current Assets: $ 311650,000 <br />(2) Transfer Indian River Drive Water <br />'Distribution Project Estimated Value: $ 750,000 <br />(3) Cash Contribution: $ 600,000 <br />This propos is subject to arrangements being formalized whereby the City can defease the <br />utility bond issue and the agreement reduced to writing and obtaining the approval of the <br />City Council, City Attorney and Bond Counsel. <br />The City requests that if you are interested in this proposal that you also consider the <br />possibility of maintaining a satellite office within the City for customer service functions. <br />Additionally, we currently have six (6) employees that would be effected by the transfer, and <br />could be available for employment with the County. <br />49 <br />November 1, 1994 <br />BOOK PA6L fi <br />