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D. E. 10:48 a.m. None 3, Recreation None Human Resources None Office of Management and Budget 1. Partial Refunding in the Amount of $20,369,000 of the Limited (Land Acquisition) General Obligation Bonds Series 2006 (memorandum dated March 31, 2015) 181-199 Director of Management and Budget Jason Brown recalled the Board's authorization on February 17, 2015 for staff to issue a Request for Proposal (RFP) for a bank loan to refund a portion of the Limited (Land Acquisition) General Obligation Bonds Series 2006 to achieve debt service savings. He stated that Regions Capital Advantage, Inc. (Regions Bank), one of the five banks who submitted a proposal, has offered to lock in an interest rate of 1.66%, and outlined the interest savings that will accrue from accepting Region's loan. Director Brown detailed two minor changes that were made to the draft Resolution, and asked the Board to approve the partial refunding and bond resolution with Regions Bank. ON MOTION by Vice Chairman Solari, SECONDED by Chairman Davis, the Board unanimously: (1) approved the partial refunding of the Limited (Land Acquisition) General Obligation Bonds, Series 2006, in the amount of $20,369,000; (2) approved, amended to change wording in Section 12. Additional Covenants, and a typographical error in one other section, Resolution 2015-047, supplementing Resolution No. 2005-059 of the County, as previously amended and supplemented; providing for the sale of a $20,369,000 Limited General Obligation Refunding Note of the County; fixing redemption provisions and a series designation for said note; providing for the sale of said note to Regions Capital Advantage, Inc.; providing certain other matters in connection therewith; and providing an effective date; and (3) authorized the Chairman to execute all necessary documents for the Limited General Obligation Refunding Note Series 2015. Board of County Commission Minutes Page 13 April 7, 2015