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• <br />• <br />The Chairman CALLED THE QUESTION and the motion <br />carried unanimously (3-0, Commissioner Adams and <br />Commissioner Eggert absent). (Authorized the Chairman to <br />sign the individual grant Certification of Acceptance of Sub - <br />grant Award for submittal to the State by the 30 -day deadline.) <br />COPIES OF DOCUMENTS ARE ON FILE <br />IN THE OFFICE OF THE CLERK TO THE BOARD <br />11.E.3. INTERLOCAL AGREEMENT WITH PALM BEACH <br />HEALTH FACILITIES AUTHORITY TO ENABLE ADULT <br />COMMUNITIES TOTAL SERVICES, INC. tACTS) TO ISSUE BONDS <br />Budget Director Joseph A. Baird reviewed a Memorandum of November 2, 1998: <br />TO: Members of the Board <br />of County Commissioners <br />DATE: November 2, 1998 <br />SUBJECT: INTERLOCAL AGREEMENT WITH PALM BEACH HEALTH FACILITIES <br />AUTHORITY TO ENABLE ADULT COMMUNITIES TOTAL SERVICES, <br />INC. (ACTS) TO ISSUE BONDS <br />FROM: Joseph A. Baird �� RECEIVED <br />OMB Director .._.. .. _,..... <br />CLERK TO THE BOARD <br />DESCRIPTION AND CONDITIONS <br />Adult Communities Total Services, Inc. (ACTS) would like to issue Industrial Revenue Bonds not <br />to exceed $16,000,000 to refinance five of their retirement communities. Three of the retirement <br />communities are located in Palm Beach and two are in Indian River County (Indian River Estates <br />East and Indian River Estates West). <br />The facilities in Indian River County are to be financed pursuant to an inter -local agreement to be <br />entered into by the Board of County Commissioners ofIndian River County and Palm Beach County <br />Health Facilities Authority. An advertised public hearing must be held approving the issuance of <br />the Industrial Revenue bonds and interlocal agreement <br />RECOMMENDATION <br />Staffrecommends Board of County Commissioners approve advertising for a public hearing be held <br />on November 24, 1998 at 9:00 a.m. in the Board of County Commissioners chambers on the <br />resolution approving the interlocal agreement with Palm Beach County Health Authority and the <br />issuance of revenue bonds in an amount not to exceed $16,000,000. <br />November 3, 1998 <br />31 <br />P`5 <br />BOY � F'n'E 41 <br />r�4 <br />