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1987-144
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1987-144
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9/2/2022 9:39:12 AM
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9/1/2022 9:53:28 AM
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Resolutions
Resolution Number
1987-144
Approved Date
12/08/1987
Subject
Authorizing the execution and delivery of a Note Purchase Agreement
of $9,200,000 aggregate principal amount of water & sewer revenue bonds
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year ware 10,200 students. There are 1,190 instructional and <br />non -instructional personnel with 679 teachers. In addition to <br />the public school system, there are several parochial and private <br />schools. <br />The Indian River. Community €'ollPr3p, with its main <br />campus located in Ft. fierce. abrAlt 15 mil" from Vero Beach, has <br />branch camps -es, in Vero Aeactt anti in okeechobee and Martin <br />Counties. The state -supported (70rrrr^tertity collet;p offers a general <br />college program for [.he first two years and a wide variety of <br />technical and Vor,4tiOt}ai instruct ori. The Mueller Center in Vero <br />Beach has a 40 -acre campttt;. ton classrooms and office facilities. <br />Communications and Electric Utilities <br />OnP daily WP npapPr is publi.ntied In the County. There <br />Ar•e five local. radtr� st.At.inr;s. Telephnna service to supplied by <br />southern Bell. Vero Beach F lert..UL(I. system and Florida Power 6 <br />Light. Company supply e1ectr1city. <br />Till Y !I-rF*M <br />General <br />The Co;u;ty c>wn4 An't 't)"A eA water And ;sewer• n7stems <br />(collectively, the 'syatem"), which were PstablInhed In 1978. <br />The County provides water And newer ner•viren t-1> A p::>rtlon <:,f the. <br />County's population, witin a mA)nrit_y of the other €.'ottnty <br />residents being serviced by private wells and septic tank!; and <br />the City of Vero Reach. Florida, which operates its own water and <br />sewer systems. <br />The water system has a nominal capacity of 2 1/2 <br />million gallons per day ("MGD"). In addition, the County <br />purchases 750,000 gallons of water per day from the City of Vero <br />Beach, Florida. The County is currently expanding its water <br />supply system to 5 MGD, with expansion to the System expected to <br />be completed during the summer of 1988. The County expects that <br />the expanded system will supply all water needs of the System <br />through 1992, and the County would no longer continue to purchase <br />water from Vero Beach. Also under construction is a transmission <br />line connecting different areas of the County's water system. <br />The County's sewer system currently consists of three <br />small wastewater plants and one regional plant, plus a 28.9% <br />ownership interest in the Vero Beach wastewater plant. The <br />County is expanding its regional plant from a treatment capacity <br />of 1 MGD to a capacity of 2 MGD, with completion of such <br />expansion expected in 1 to 1 1/2 years. In addition, from a <br />portion of the proceeds of the Notes, the County intends to <br />9 <br />
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