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Board of County Commissioners Meeting Minutes - Final December 15, 2020 <br />Recommended Action: Staff recommends that the Board of County Commissioners approve the fixed <br />interest rate of 3.25%. Staff further recommends that this rate remain in effect for <br />calendar year 2021 for all County financing with the exception of projects directly <br />affiliated with a bond issue for which the bond covenants dictate a different interest <br />rate. <br />Attachments: Staff Report <br />County Financing Interest Rate History <br />Commissioner Moss referred to the fixed interest rate of 3.25% that would remain <br />in effect for the 2021 calendar year for all County financing with the exception of <br />projects directly affiliated with a bond issue. She asked for the Board's <br />consideration to review the interest rate sooner than a year since these were <br />unprecedented times. <br />Commissioner Adams stated it was standard for the Board to review annually and it <br />provided stability for the financing aspects of the projects. <br />Commissioner O'Bryan stated if the interest rates increased over the next six <br />months, the County would stay at the 3.25% rate for the remainder of the year. <br />Chairman Flescher felt one year was appropriate and the interest rates continued to <br />be monitored by the County. <br />Commissioner Moss did not object to the rate, and turned to County Attorney <br />Dylan Reingold on whether the interest rates could be reviewed earlier if necessary. <br />Attorney Reingold replied that he would look into the matter and get back to the <br />Board. <br />A motion was made by Commissioner Moss, seconded by Commissioner Adams, to <br />approve staffs recommendation. The motion carried by the following vote: <br />Aye: <br />5- Chairman Flescher, Vice Chairman O'Bryan, Commissioner Adams, Commissioner <br />Earman, and Commissioner Moss <br />8.H. 20-2204 <br />Gifford Neighborhood 45th Street Beautification Project Phase II, Final <br />Payment, Release of Retainage and Change Order No. 1 (IRC -1748) <br />Recommended Action: <br />Staff recommends approval of Change Order No. 1 and payment of Application for <br />Payment No. 9 to Johnson -Davis, Inc. in the amount of $1.26,957.41 for final <br />payment and release of retainage. <br />Attachments: <br />Staff Report <br />Change Order No. 1 <br />Change Order No. 1 <br />Approved staffs recommendation <br />8.1. 20-2215 <br />Greene Partners, LLC's Request for Affidavit of Exemption Approval with <br />Dedications to the County. [AOE-20-06-02 / 2020010052-86831] (Greene <br />Indian River County Florida <br />Page 6 <br />