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RECOMMENDATION <br />Based upon the above analysis, the following options are available: <br />Option 1 <br />In order for the County to proceed with the installation of water <br />lines as set forth in the interlocal agreement, the Board of County <br />Commissioners must take the following actions: <br />1. Adopt an ordinance setting up an MSBU District for the purpose <br />of conduting special assessments and holding public hearings <br />within the City of Sebastian. <br />2. The Board of County Commissioners act as the hearing Board and <br />hold public hearings for special assessments within the MSBU <br />District, and <br />3. Request the City to waive the 60 -day notice per the interlocal <br />agreement to expedite the project. <br />Option 2 <br />Take no action, and the County would accept new customers when <br />either the City or private developers build water lines to County <br />specifications. <br />Commissioner Eggert just wanted to be sure that Sebastian <br />stands behind the program. <br />Thomas Frame, City Manager for the City of Sebastian, <br />explained that he felt that the 8-1/2 percent was clearly 1 percent <br />more than what the market was charging. <br />Attorney Vitunac explained that if the County does the <br />assessment, it will be 8-1/2% by ordinance. If the City were to do <br />the assessment, they could get whatever rate they could. <br />Discussion ensued about the 8-1/2 % rate, and Mr. Frame felt <br />it would be the preference of the Sebastian City Council to do the <br />assessment at 8-1/2%. <br />Administrator Chandler recalled that the integral part of the <br />extensive negotiations that took place over a year ago was how we <br />would finance the total price tag. <br />Mr. Frame agreed to take the matter back to the City Council <br />for clarity at their meeting next week. <br />ON MOTION by Commissioner Eggert, SECONDED by <br />Commissioner Bird, the Board unanimously approved <br />Option #1 with 3 conditions as set out but deleting <br />asking the City to speak to the interest rate with <br />the understanding that Mr. Frame is to talk to City <br />Council and resolve the interest rate issue at next <br />week's Council meeting. <br />SOUTH COUNTY REVERSE OSMOSIS PLAINT <br />The Board reviewed a Memorandum of May 28, 1996: <br />28 <br />JUNE 189 1996 <br />BOOK 98 FAGF 392 <br />