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ON MOTION by Commissioner Eggert, SECONDED by <br />.Commissioner Adams, the Board unanimously approved <br />Addendum No. 1 to Work Authorization for Carter & <br />Associates, as recommended by staff. <br />WORK AUTH. ADDENDUM ON FILE IN OFFICE OF THE CLERK TO THE BOARD <br />ACQUISITION OF CITY OF SEBASTIAN UTILITY SYSTEM <br />The Board reviewed the following memo dated 4/25/95: <br />DATE: April 25, 1995 <br />TO: JAMES E. CHANDLER <br />COUNTY ADMINISTRATOR <br />FROM: TERRANCE G. PI <br />DIRECTOR OF UTILIT S CES <br />PREPARED HARRY E. AS I V <br />AND STAFFED ASSISTANT T R OF UTILITY SERVICES <br />BY: <br />SUBJECT: ACQUISITION OF CITY OF SEBASTIAN UTILITY SYSTEM <br />BACKGROUND <br />On November 1, 1994, the Department of Utility Services presented <br />to the Board of County Commissioners a letter of proposal <br />(authorized by the City Council) from the City of Sebastian's City <br />Manager, Joel Koford, offering the sale of the City Utility System <br />(System) and establishing a thirty (30) year franchise agreement <br />"to provide potable water distribution and wastewater collection <br />for the City of Sebastian (City)" (Copy attached). <br />After review, the Board authorized Staff to proceed with <br />investigation of the legal aspects of the acquisition including the <br />expense of -the services of bond counsel to review the acquisition. <br />(Copy of minutes are attached). <br />ANALYSIS <br />The Department- performed its analysis based upon the criteria that <br />(1) the purchase must be supported with revenues generated under <br />existing County utility rates and (2) that the existing County <br />customers would not be impacted negatively. <br />The Department has analyzed the financial and engineering <br />information provided by the City. Based upon this analysis (copy <br />attached), contents of the proposed interlocal agreement (copy - <br />attached), and assumption by the County of the existing City of <br />Sebastian Utility Bond Issue, the Department has determined that it <br />would be financially feasible to acquire the System. This <br />determination is also based upon the assumption that the County <br />would abandon the existing water and wastewater treatment <br />facilities and supply capacity from its existing facilities. Due <br />to the high operating and maintenance fees, it would not be <br />financially feasible to acquire the System and to continue to <br />MAY 2 1995 31 BOOK 94 Fa;E 9194 <br />