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Discussion arose regarding the possibility of paying off the Series 2001 Spring Training <br />Facility Revenue Bonds early, because of the high interest rate (4.87%). A suggestion was made <br />to use the One -Cent Tourist Development Tax to help pay down the bond issues, but <br />Administrator Baird stressed that tourist tax must be used for specific improvements, such as a <br />stadium or sports facility. <br />Dialogue continued as staff addressed the Board's comments and questions about the <br />County Golf Course (Recreational Revenue Refunding Bonds, Series 2003); and Utilities <br />System (Water & Sewer Revenue Refunding Bonds Series 2005). <br />A suggestion was made to consider using a portion of the utility funds to ameliorate <br />possible septic tank leakage into the Indian River Lagoon. <br />Administrator Baird advised that state grants were available to help with septic tank <br />seepage, and suggested the Board explore that avenue before making any decisions. <br />In conclusion, Director Brown reported that staff anticipates being able to pay off two out <br />of the five bond issues by 2015. <br />No Board Action Required or Taken <br />12.G.2. ADDITIONAL LEGISLATIVE ISSUES - 2013 SESSION <br />Director Brown provided background and analysis on proposed bills in the legislature: <br />• House Bill 7123, f/k/aJ PCB-SCCB 13-01, would increase the sovereign <br />immunity caps for local governments; it appears that the bill will not be moved <br />forward. <br />April 2, 2013 15 <br />143 PG67I <br />