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I. Budget Amendment 024 - $38.900,000 Bond Issue <br />The Board reviewed a Memorandum of June 26, 1996: <br />TO: Members of the Board <br />of County COmmiskoners - <br />DATE:' June 26, 1996 <br />SUBJECT: BUDGET FOR $38,900,000 BOND ISSUE - CONSENT AGENDA <br />Budget t 024 <br />FROM: Joseph A. Bair <br />OMB Director <br />DESCRIPTION AND CONDITIONS <br />On May 21, 1996 Indian River County issued series 1996 Water and Sewer Bond Issue in the amount of <br />$38,900,000. The Board of County Commissioners need to approve the Sources and Uses of the bond <br />issue as shown in the Official Statement as the budget <br />RECOMMENDATION <br />Staff recommends the -Board of County Commissioners' approve the Sources and Uses;sfthe $38,900,000 <br />Bond Issue as the budget. <br />ON MOTION by Commissioner Eggert, SECONDED by <br />Commissioner Bird, the Board unanimously approved <br />the Sources and Uses of the $38,900,000 Bond Issue <br />as shown in the Official Statement as Budget <br />Amendment 024, as recommended by staff. <br />Sources: BUDGET ANENT 024 <br />Principal Amount of Series 1996 Bonds <br />$38,900,000.00 <br />Accrued Interest <br />$234,035.26 <br />Original Issue Discount <br />($1,195,541.05) <br />Total Sources <br />$37,938,494.21 <br />Uses: <br />Deposit to Construction Account <br />$37,064,379.65 <br />Deposit to Sinking Fund <br />$234,035.26 <br />Issuance Expenses (1) <br />$640,079.30 <br />Total Uses <br />S37.939.494-21 <br />1. Resolution 96-75 - Right -of -Way for Road Project #8823 <br />(58th Avenue) <br />The Board reviewed a Memorandum of June 20, 1996: <br />TO: Board of County Commissioners <br />FROM: Terrence P. O'Brien - Assistant County Attorney <br />DATE: June 20, 1996 <br />SUBJECT: ADDITIONAL PROPERTY FOR ROAD PROJECT #8823 <br />(BOTH AVE) <br />The Board of County Commissioners adopted Resolution No. 96-64 which <br />authorized condemnation of three parcels in connection with the subject <br />project. Engineering has now determined that an additional 1 acre <br />parcel is necessary for water retention. <br />JULY 29 1996 13 800K <br />98 f,, <br />