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BOOK i0 F% PAGE 76 <br />The Board reviewed a Memorandum of November 18, 1998: <br />TO: Members of the Board <br />of County Commissioners <br />DATE: November 18, 1998 <br />SUBJECT: PROPOSED RESOLUTION AUTHORIZING AN INTERLOCAL <br />AGREEMENT AND THE ISSUANCE OF REVENUE BONDS NOT TO <br />EXCEED $16,000,000 BY THE PALM BEACH COUNTY HEALTH <br />FACILITIES AUTHORITY <br />FROM: Joseph A. Bairc <br />OMB Director <br />DESCRIPTION AND CONDITIONS <br />The Board of County Commissioners at its regular meeting of November 3, 1998 approved the <br />subject matter for a public hearing on November 24, 1998. Notice of the hearing was published in <br />the Press -Journal. <br />A copy of the proposed resolution and interlocal agreement are attached. <br />Budget Director Joseph A. Baird explained the resolution and advised that ACTS had <br />two facilities in Indian River County and three in Palm Beach County. The Interlocal <br />Agreement authorizes the bonds to be under the Palm Beach Health Facilities Authority <br />jurisdiction. <br />Chairman Tippin understood that this resolution and agreement in no way obligates <br />the County financially, and County Attorney Vitunac confirmed his understanding. <br />The Chairman opened the public hearing and asked if anyone wished to be heard in <br />this matter. <br />Jerry Neal, representing Foley and Lardner, advised that his law firm is the bond <br />counsel for the Palm Beach County Health Facilities Authority. He was present to answer <br />any questions along with Dan Irwin, Vice President of Operations for the southern region of <br />Adult Community Total Services. <br />Rene Renzi, 340 Waverly Place East, Vero Beach, asked what this was all about. <br />County Attorney Vitunac gave a comprehensive explanation of how this resolution <br />and interlocal agreement worked, under the law, to provide a tax benefit for the construction <br />November 24, 1998 <br />20 <br />0 <br />