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Board of County Commissioners <br />Meeting Minutes - Final July 9, 2019 <br />authorized for sale and/or disposal. Ms. Hyde also sought approval to use an <br />online auction site for the sale of titled assets. She noted that traditional live <br />auction events had become progressively less successful, and listed several <br />reasons why moving to online sales of the listed titled assets would be <br />beneficial for the County. <br />A motion was made by Commissioner Flescher, seconded by Vice Chairman <br />Adams, to approve staffs recommendation. The motion carried by the following <br />vote: <br />Aye: 5 - Chairman Solari, Vice Chairman Adams, Commissioner Flescher, Commissioner <br />O'Bryan, and Commissioner Zorc <br />12.E.2. 19-0605 <br />Recommended Action: <br />Water & Sewer Revenue Refunding Bonds, Series 2009 Approval of Resolution <br />for Early Payoff <br />Staff recommends that the Board of Commissioners approve the Resolution <br />authorizing the redemption and payment of the Water & Sewer Revenue <br />Refunding Bonds, Series 2009; authorizing the use of Utilities cash balance in <br />the amount of $11,320,000 to pay off this debt and related expenses; and <br />authorizing the proper officers of the County to do all acts necessary and proper <br />for carrying out the transactions contemplated by this resolution. <br />Attachments: Staff Report <br />Resolution <br />Notice of Redemption <br />Masterson Advisors Series 2009 Redemption Calcualtions <br />Management and Budget Director Kristin Daniels presented a Resolution which <br />would provide for early payoff of the Water and Sewer Revenue Refunding <br />Bonds, Series 2009. The Board had granted approval to move forward with <br />the early payoff process at the July 2, 2019 Commission meeting. Director <br />Daniels recounted her discussions with the County's financial advisor and bond <br />counsel, and provided analysis on the benefits of an early payoff. <br />A motion was made by Commissioner O'Bryan, seconded by Vice Chairman <br />Adams, to approve Resolution 2019-059 authorizing the redemption of its Indian <br />River County, Florida Water and Sewer Revenue Refunding Bonds, Series 2009; <br />authorizing a redemption notice, notice to redeem and certain other <br />documentation; and providing for repeal of inconsistent provisions, severability <br />and an effective date. The motion carried by the following vote: <br />Aye: 5 - Chairman Solari, Vice Chairman Adams, Commissioner Flescher, Commissioner <br />O'Bryan, and Commissioner Zorc <br />F. Public Works <br />G. Utilities Services <br />13. COUNTY ATTORNEY MATTERS <br />Indian River County Florida <br />Page 10 <br />