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can make a comprehensive proposal on the purchase of land. He asked the Board to consider looking ahead 15 years by taking the money left in LAAC funds and consider the purchase of property as per Mr. Mensing's suggestion. He felt it would be advantageous to borrow the money and buy such property now because that land will be fast disappearing. He believed the community would support preservation of land that is so beautiful. When Chairman Macht questioned, Assistant Administrator Baird advisee the County could not use arbitrage on the bond interest for that purpose. Chairman Macht was not sure citizens would support another $15 million bond issue to preserve land. The LAAC has been able to leverage funds by combining with State and Federal monies. He. hoped the LAAC chairman will encourage another study toward a referendum. Commissioner Neuberger thought Mr. Williams should be the LAAC chairman, and Vice Chairman Ginn agreed he should at least be on the committee. In response to Vice Chairman Ginn, Assistant County Administrator Baird explained that a general obligation debt would have to go to referendum or the Board could proceed with a revenue bond without a referendum. Guy Barber was of the opinion that the County is going to build buildings, to lease space, to create shortage, to build new buildings. He cited as an example the County's lease of jail beds to Federal prisoners and suggested the County use the lease money to build and not use tax money. He opposed a branch library going to the Indian River Community College campus and argued it should be built in south Indian River County. Hie opposed the amount ofthe expense proposed for the Administration Building and opposed partnering with other government entities. He felt this Commission is trying to tie up the p:-oceeds of the 1 -cent sales tax for the next 19 years. Assistant Administrator Baird explained this is a 5 -year plan which the Board had March 11, 2003 18 r