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The Board reviewed a Memorandum of April 30,1997: <br />TO: Members of the Board <br />of County Commissioners <br />DATE: April 30, 1997 <br />SUBJECT: TEFRA (TAX EQUITYFUND RESPONSI HJ"AC7) PUBLIC HEARING <br />AND RESOLUTION AUTHORIZING OCEAN SPRAY CRANBERRIES, INC <br />TO ISSUE REVENUE BONDS NOT TO EXCEED $10,000,000 <br />PUBLIC HEARING <br />FROM: Joseph A Baia <br />OMB Director <br />DESCRIPTION AND CONDITIONS <br />The Board of County Commissioners at its regular meeting of April 22, 1997 approved the <br />advertising of the TEFRA (Tax Equity Fiscal Responsibility Act) public hearing to consider a <br />resohition authorizing Ocean Spray Cranberries, Inc. to issue $10,000,000 in "tax exempt" industrial <br />revenue bonds to finance the acquisition, rehabilitation and expansion of an approximately 23,000 <br />square foot solid waste disposal fimility. The facility will process fiuit and related waste peelings into <br />cattle feed. - <br />A copy of the proposed resolution is attached. <br />Staff recommends that the Board of County Commissioners approve the attached resolution. <br />The Chairman opened the public hearing and asked if anyone wished to be heard in <br />this matter. There being none, she closed the public hearing. <br />ON MOTION by Commissioner Adams, SECONDED by <br />Commissioner Tippin, the Board unanimously adopted <br />Resolution 97-43 approving issuance of not to exceed <br />$10,000,000 Indian River County, Florida Industrial <br />Development Revenue Bonds, Series {To Be Determined} <br />(OCEAN SPRAY CRANBERRIES, INC. PROJECT) <br />pursuant to Section 147(f) of the Internal Revenue Code of <br />1986; providing certain other matters in connection <br />therewith; and providing an effective date.. <br />MAY 6.1997 46 ® - <br />