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After general discussion, Attorney Reid noted that the major concerns as he understands them are: a guarantee that the minor league team will stay in Vero and more protection from liability. His understanding of the MOU is that basically the County and the City will be held harmless from liability. Commissioner Ginn wanted stronger language about the disbursement of the capital reserve fund, and Attorney Reid noted that even if the Dodgers chose to spend all of the capital reserve today, they would still have the same obligations for the balance of the lease term and those obligations would be enforceable. Chairman Adams questioned whether the County would recoup its costs if the Dodgers paid off the bonds and repurchased the property in 10 years, and Attorney Reid replied that the costs are a part of the bond issue. Any costs are paid when the bonds are issued and the bonds would be paid in full should the Dodgers leave. Commissioner Macht noted that the discussion only involves the MOU and that the Board would have final approval of the subsequent agreements. Attorney Schutta asked for approval of the MOU "subject to approval by the 2 attorneys" and noted that the entire deal is contingent upon the ancillary development by deGuardiola. If he does not develop the project, all parties would be relieved of all obligations. Chairman Adams called for a brief recess at 3:35 p.m. and the meeting reconvened at 3:55 p.m. with the same parties present. Attorney Reid commented that the MOU is a statement of the understanding of the big picture or a foundation of what is being envisioned. There are a lot of negotiations still to come with the final agreements. Administrator Chandler stated that if substantive changes are to be made in the MOU, we would need to go back to negotiations. However, if there are only clarifications in wording to be made, the MOU could be approved today. 311IMMOMMO JULY 249 2000 -13-