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Indian River County staff; with assistance from our financial advisor, Ed Stull with <br />FirstSouthwest, obtained proposals. As presented, the Limited General Obligation Refunding <br />Note, Series 2015 proposed by Regions Capital Advantage, Inc. provides for an average interest <br />cost of 1.66%, a total interest savings of $1,356,323 and a net present value (NPV) savings of <br />$1,184,814 (6.21% of the refunded par amount of the Series 2006 bonds). This is a greater <br />savings than was originally estimated in the February 17, 2015, staff report. <br />Recommendation <br />Staff recommends that the Board of County Commissioners approve the partial refunding of the <br />Limited (Land Acquisition) General Obligation Bonds, Series 2006, in the amount of <br />$20,369,000. Additionally, staff recommends approval of the attached Bond Resolution, and <br />authorization for the Chairman to execute all necessary documents for the Limited General <br />Obligation Refunding Note, Series 2015. <br />APPROVED AGENDA ITEM <br />BY: <br />FOR: <br />April 7, 2015 <br />Indian River Co <br />' ved <br />Date <br />Administrator <br />11 i <br />/ 1/6 <br />Legal <br />I `'' <br />3 <br />i / <br />t <br />182 <br />