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Sinking Fund has $939,750 in investments and the Renewal and Replacement fund has $2,500,000 <br />in cash, totaling approximately $3,440,000. Some of this cash would be used to defease the bonds. <br />Both the above mentioned Bond Issues will be defeased utilizing inter -fund borrowing as well as the <br />cash available in their perspective funds. <br />RECOMMENDATION <br />Authorize staff to proceed in defeasing the two above mentioned bond issues and utilize inter -fund <br />borrowing to do so if necessary. <br />ON MOTION by Commissioner Eggert, SECONDED by <br />Commissioner Bird, the Board unanimously authorized <br />staff to proceed to defease the $8,240,000 Solid <br />Waste Bonds Series 1988 and the $9,855,000 Refund <br />and Improvement Bonds, Series 19851 and to utilize <br />inter -fund borrowing to do so, if necessary, as <br />recommended in the Memorandum. <br />COUNTYWIDE TRAFFIC SIGNAL RETIMING - REQUEST FOR <br />PROPOSALS FROM CONSULTANTS <br />The Board reviewed a Memorandum of October 22, 1996: <br />TO: James E. Chandler, <br />County Administrator - <br />THROUGH: James W. Davis, P.E. <br />Public Works Director <br />FROM: Christopher R. Mora, P.E. Cj� <br />County Traffic Engineer <br />SUBJECT: REQUEST FOR PROPOSALS (RFP) FROM CONSULTANT FIRMS <br />COUNTYWIDE TRAFFIC SIGNAL RETIMING <br />REF. Attached RFP <br />DATE: October 22, 1996 <br />DESCRIPTION AND CONDITIONS <br />The County's Traffic Engineering Division is in need_of technical <br />support services in the area of traffic signal retiming. Expansion <br />of the County's computerized (Closed Loop) traffic signal system <br />and the continued traffic growth/additional traffic signals <br />throughout the County have resulted in a need for these services. <br />95 <br />November 5, 1996 BOOK 99 PAGE 612 <br />