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Fr- -I <br />34 <br />BOOK. +' FAG/0 <br />The chart below shows the Sources and Uses of the funds. <br />USES: <br />Principal Amount $39325,000.00 <br />Premium $49,875.00 <br />Estimated Interest thru June 1, 1997 $75,500.00 <br />Estimated Defeasance Cost $15,000.00 <br />TOTAL USES $3,465,375.00 <br />SOURCES: <br />Debt Service Fund 204: <br />Sinking Fund Max. Debt Service $561,662.50 <br />Fund Balance 204 $379,754.94 <br />Current Year Revenue $75,500.00 <br />Total Debt Service Fund 204 $131016,917.44 <br />Fund 505 - Anthem Insurance <br />Fund 502 - Self Insurance <br />$1,000,000.00 <br />$1,00031000.00 <br />Estimated Fund 001 - General Fund $448,457.56 <br />TOTAL SOURCES $3,465,375.00 <br />The auditors have reviewed the use of the above mentioned funds and concur provided staff obtains <br />the Board of County Commissioners approval. <br />RECOMMENDATION <br />Staff recommends that the Board authorizes staff to proceed in defeasing the one bond issue utilizing <br />the funds as set forth. <br />ON MOTION by Commissioner Adams, SECONDED by <br />Commissioner Ginn, the Board unanimously (4-0, <br />Commissioner Macht being absent) authorized staff to <br />proceed in defeasance of the bond issue and utilize <br />the funds set forth, as recommended in the <br />Memorandum. <br />1997/98 BUDGET WORKSHOP AND HEARING SCHEDULE <br />The Board reviewed a Memorandum of March 18, 1997: <br />0£3 <br />March 25, 1997 <br />