BCC Minutes 02/08/1983 W
~~Dlns, Florfrln, ~nhrunty ~, ¡nQ~
Lr.T IT Pro np.~F.~Pp.R'r, t~~t th~ Poard of County r.ommf..lonerl In
'nd tor the County of ColUot, IIn'" I'Ilso IIctfn,., ItS the "o"'rrl of 7.onfn"
'ppeðls "'nd I'I~ the ~overnin~ hOl'lrrlCs, ðf ßuch sp~cf~l rlfAtrfcts ~8 ~av~
'11""'" 'Ctel'ltorl I'ICcord1nq to law ...nd h.-vln1 conAlJ~tl"rI nll~1"~fUI "'or~fn, "'Pt
:n thin dl'lto I'It ¿?:~~ ~.~. In Worklhop Ses810n fn ~u1lrlfn~ "~" of the
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r.·!I'rr~·,,^~,: Ml'lry-Prl1nC:P9 '<ruse
vrer:: c"^r~>,1)1'1: rAvf/'! r. fro....n
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.John 1\. Pfstot
f:'rl'r (?rfck .1. VO!HI
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~ft~c:('r; Mllurpt>n ""ny;n, """hlt'/ r.l·'r~; l'1urt L. ~"'unr "rs, rOllnty
'r~-:rn"y; C. "1:1111., "er"'n, r,)lIntv "'''n'''ll''r: ,'nr! "'!1:!..." "'~""ltv,
\ 'f:' r' ~~ ~'(.'p,'r t~~nt.
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~!Sr."U:¡S!on ,¡f :'rùn'~~"'1 Ut!l!tv h"n~ r"-f!n)\nc!~., f!nl'ln~!"l
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COUNTY TO NEGOTIATE CONTRACT WITH FISCHER, JOHNSON, ALLEN,
9unKE/SOUTHEASTERN MUNICIPAL BONDS, INC. TO PROCEED WITH A POTENTIAL
~ElYNDING ON THE COUNTY REGIONAL WATER PLANT BOND ISSUE
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~o~~ 07 a PACE 838
Cl~r~ ~t>"',nn St~ter thAt r[nc!'~r, 1ohnoon, ^llen, ~urk~/-
::,;ut~IL'I\,~t"rn "'lJn!('!p.l1 r'l')n-j~. r,,'ë'. r"~r"~nnt~rl r.h(' rOllntY!n the
r'rC'v!",!!; !SSIJP.' re'IHrl~n'l th~ funrf1n'1 of r.~p. hon~~. lIe St1'ltorl thlllt they
,,~t ,1i. :,I,!, t!n<'lnc '''l ",,1'11$,_[ c<)nct"rn!n'l rhl? r"flJn'"'f"". 'Ie 8t"'terl th...t
",~../" r'! cC~"r, tt rerraSontllt1ve of the co..,,,...ny, wOlllrl ,,1'18 1'1 tl'llfc .
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Fehru~ry Po, 1°°1
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regarding the refunding of the issue. H@ StAted thAt at this tIme it
is necessary to determine thefr rel~tionship on ~ rp.funrlin1 issue 8n~
the relationship with an underwriter.
Commlßsioner Kruse StAten th~t Pischer, JOhnson, Allen,
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~urk~/SOUthoðStern Municipal ~onrls, Inc. are the financial arlvlsorB on
the existing hond issue, and ~uestioned, if tho ~oðrrl rlecirle~ to refun~
the issue, if this company woul/'! havp. to he hired for that purpose.
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Clerk Rea~an inr11c~t~rl t~~t risch~r, John~on, ^llen,
Purkp/~outhel'lstúrn ~unicipltl Ronrl~, ln~. woul~ not have to he ~ire~,
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but ho wOllIn rf'com"'('nrl thll". '" f!i'I~"'l l!('vlRor hp hfrerl ~n'" hl!l
recommendlltfon woulri hI" this fir".
Clerk Rea''''n St"'t~rl thAt on III rptllnr1fn~ fRSU~, therp mllY not he 1'1
title nef'rl tor It f!sc~l I'IrlViRor, ðr1din~ thl'lt he feelR hetter with A
fiscal ðdv!sor.
Mr. ~avp rf~c:h"r ~t~t('~ th~t th~y hav~ hf'p.n the f.lnAn~i",l a~vi80r5
on the last three or tour issues. lie reporte'" thllt ð r l)tunrHnq woulrl
be the SlIl'1p liS ð nOrt~ð1e or anythLnq else, llri"'fn~ that whon the water
million dollArs. ~p. Stllter! that the financial arlvlsorR rolefn a
bond issues Cline OUt lllst sprinq, they had an interest rate of Sliqhtly
over ¿21e 'Ie notf'ri th.n !ntnrest rðtes hllvo fl'll1en conl1derably lince
thðt tl~e and lire runnln~ hetween q-¿o, today. ~. Stðted hy refunrlfn~
tho bonrl issue', there could he ð sllvlnt:J!I of two or two lint! one-hill f
rofundln~ Issue Is not ~uch differ~nt th8n the or1q1nAl issue, addin~
that refundinq is 1'1 hiq leqðl m8neuver because of tax counsel, IR~
requirements, etc. ~~ Stilted thl'lt the bOttom lin~ would he Wh8t will
b. saved in dollllr8 I'In<1 cents, IInri the AOðrrl wOlll~ hl'lve th~ oPPOrtun~ty
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F'ebrullry ", l"q,
~o I'ICCOPt or rej@ct th~t rrop08~1.
~om"'issioner Voss QlJeRtlonor1 if the honrls \.,er<> ffr'lt Rolrl ~n-:' tt'len
~~fterent hon~~ bOlJ~ht which in turn Pl'ly off the orl~in"l hon~8, to
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':11~C'h ·~r. Fincher r"pl!.(!o,- ",fffr"'..th.,,.l'1, Mlrlfn" r.~.'It t~. I"Ion...y Is
~~crO\"erj <'Inn ~OVp.rnm(>nt !1'!ClJri tic!'! I1r" I)o,,"ht ! n orr'"r to ~t"'rt "tllrnfnl1
!nr.>;!ro~r..
!I~ CJt"tcc1 th"'t t~1!1 19 ~1'I11,,'" M'v,"n~"r rpflln'Hn"t, nðtfn~
r~~t 1f the rOunty w...it~ ter th~ ~"ll rj",r.,. of th~ other ~onrlft, ther~ fs
, ,'" y () t I< no....l n., .....h 1'1 t t h I> ~ n t (' r n!, t r." t I> 9 'dO III ,I "I p .
County """nll"!?r \.r<:;·r~,1In ~r.'t"'r! tht't en!' (:,f rl-,... tl'dn,,!'! ~!!'ICUSR"rl Wl!lf'
"1~'rrH'r ru....:!c: ;'111(' .)f ru....,!!... "I,l ~'l()lI:rj h" "".,n~!"n.r"'~ ~or r.~,. ~onr'!'II
: 'r·l·~r th,'n np'1()t:"'t~rj nl)¡,., "~"!n" r:h,"r ~" (('pIn th,.,t I' n"'10tf.'It"rl
. ,I : i! !:; ,,: n 'J rt t ,"\ n (' f] f1 ~ n r ! t"': ,ro, n~, r (, , r: ~ " 0
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ro v r:1r1 ! ::; r. Lj n " r \' \) !; ~ >1 I Jr' n t ! ':)1'1 (' '1 '1 ') 'N I: t- " !"o :> n rJ h 0 IJ ~ e 1 S !'; e 1 ,. co t ~ rI, to
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.:'~~ r.o 'J"r~')ll~ !nVl'5rnent "'nlo:~n, \')', ";I>q.
",... ":t,1lr"'r I:I-,..t !n "'~'dn" ..,
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"'r~~t!n" ~nn ~!~tr!~lJt!~n ct ~~" ~0n~~.
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""HJl-j 1'0" ,,'(~,... ,'n" nC'octL,t!on!1 I/Oll;" ~" 'Ir.,~rt()r llÍth t~"t pl'lrtfcul"'r
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"' r~('/~)Utht"Hlt(>rn "unfCi('lIl 1"0nr1s, rn~. he! hir~:1 ~n-t ~taff line! the
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eO~K 073 rAC( 640
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F'ehrul'lry ø, .ino~
Clerk'. offl.. n."otl.t. . .ontr... lor 'helr I... " ".t.. th.t
In.tru."on. .houl. h. nlv.n '0 Ot." on. th. fl'.ol o.vf.or. tho.
threp. or tour ",njor firMs !'Iboulrf h(' np.(' Otfntori with.
Commissioner Voss moved, seconded by Commissioner Kruse and
c.rrl.d un.nlmou.ly, th.t tho County n.gotl.t. . Contr.ct wIth FI.ch.r,
John.on, Allon, Bur'.¡Sou.h...t.rn Munlclp.l Bond., Inc. to proc..d
wIth · PO'.ntl.1 r.fundlng on 'h. County w.tor Rov.nu. Bond I..u..
Item '2
COUNTY MANAGER. UTILITIES DIRECTOR, COUNTY ATTORNEY. CLERK'S OFFICE,
AND COUNTY COMMISSIONER DIRECTED TO NEGOTIATE WITH FIRMS INTERESTED RE
REFUNDING AS RECOMMENDED BY FISCAL ADVISORS.
Commissioner Voss moved, seconded by CommiSlioner Pistor and
C.rrl.d un.nlmou.ly. th.. tho County M.n.g.r. Utllltl.. Dlr.ctor,
County Attorn.y. Cl.rk'. Offlc.. 'nd County Comml..lon.r. b. dlr.ct.d
to nogotl.to wl'h fIrm. In..r....d ro r.fundlng .. r.comm.nd.d by
!fscal advisors.
Item '3
COMMISSIONER VOSS APPOINTED TO REFUNDING COMMITTEE
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Commlslioner Piltor moved, seconded by Commi..ioner Kru.e and
carried unanimously, that Commlalioner VOII be appoInted to the
refund1nq commItte..
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COlJnty ^ttorn<?y ~l'IlInd[llrs !'Itl'ltp~ thllt hl' ~11'1!'1 a"ok,," "'ft~ ,I
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'Ot.ntl.l hon. <oun..l '0 '..I.t In tho r.fun.lnn I..ue with reo.r.. to
t. k I n9 .. reo I th. Ie,. 1 f .eu.. f nvo 1 v.. . ue not.. th't h. h"S .Pok.n
wfth or. "Iblfn. .n .ttorn.y In T.ll.h...... o..'n. 'hot h. I. pr...r..
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to renr".nt t'" County on tho r.fundln. Is.u.. II. '''t.. thot h.
Woul. Ilk. to hove .om. .Ir..tlon Irom tho Po.r. r..orOlnn the m.tt.r.
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Februðry 11, 1~A1
would like to have some ~irect10n from th4 Ro~r~ re~ar~fnq t~.
Tape '7
County ~anager Norm~n Itaterl t~at ~r. nihIin Wi'll with t~e fIrm ot
I'iIlJdqe ROle anrl lerveð 1111 thfll inveøtment hanker" honrl eounlol on the
prior pro1oct, I'IrlrHn., thllt hI! 1s not <'Isnoci~tl!rl wit'" t"p "'111'1.,. nORe
firm or Prudentf~l Racho in ~ny way.
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""r. D...ve F1sc:hor qtl'ltl!r1 t"ltt he wOlJl~ Uk., to "'1!'!~lIs!'l with ~t"'ff
ahout 1ettin~ 1'1 tP~M to~ether hotore I'Inyonp fs fn~"'cte~, to w~fch t~~
~O... rrl III) r ~et1 .
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There hein~ no further husiness for th~ nonrl of th" r,ounty, the
meet!n1 WitS ~r ieurn~rl hy ~rrlp.r of the' ~hn1r ~t ~':~~ p.~.
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M!)~ 07B PACE.
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