Laserfiche WebLink
BOOK 9`� PA�t 995 <br />operate the existing treatment plants after the acquisition. A key. <br />component to the future financial viability of the system is the <br />ability to expand the. water system to serve areas in the City <br />without water service. <br />The Department has concluded, based upon the above analysis that <br />the County can meet the requirments under Florida Statutes, Section <br />125.3401. <br />The County has submitted its financial and engineering analysis to <br />bond counsel and its bond underwriters and has received positive <br />response as to the County's ability to assume the existing City <br />Utility Bond Issue. <br />RECOMMENDATION <br />The Department of Utility Services, based upon the above <br />assumptions and analyses has determined that it would be <br />financially feasible to acquire the System with City customers <br />paying the same for utility service as County customers and with no <br />negative impact on existing County customers. The Department <br />requests further direction from the Board of County Commissioners <br />in this matter prior to proceeding with Public Hearings in this <br />matter. <br />MOTION WAS MADE by Commissioner Adams, SECONDED by <br />Commissioner Eggert, that the Board direct staff to <br />proceed with the public hearings on the acquisition <br />of the City of Sebastian utility system. <br />Under discussion, Commissioner Adams understood that we have <br />determined that we could make the transfer work,. financially, and <br />it would not be detrimental to our current customers. <br />Attorney Vitunac confirmed that both the City and the County <br />have to go through the public hearing process. <br />THE CHAIRMAN CALLED FOR THE QUESTION. <br />The Motion passed unanimously. <br />Mayor of Sebastian Arthur Firtion explained that the delay on - <br />their part is due to the audit and the fact that they have to get <br />the figures exact. <br />Attorney Vitunac confirmed that both the City and the County <br />have to hold public hearings on the acquisition. <br />Commissioner Bird just wanted everyone to clearly understand <br />right up front what is going to happen. <br />Mayor Firtion was sure it would be a good thing for Sebastian, <br />which is why he ordered a white paper on it. <br />32 <br />MAY 2 1995 <br />