The Lake County Board of County Commissioners met in special session on Tuesday, June 22, 1992, at 3:30 p.m., in the Board of County Commissioner's Meeting Room, Lake County Administration Building, Tavares, Florida. Commissioners present at the meeting were: G. Richard Swartz, Jr., Chairman; Catherine Hanson, Vice Chairman; Rhonda H. Gerber; Don Bailey; and Welton G. Cadwell. Others present were: Annette Star Lustgarten, County Attorney; Peter F. Wahl, County Manager; Ava Kronz, BCC Office Manager; Barbara Lehman, Chief Deputy, Finance & Audit Department; and Sandra Carter, Deputy Clerk.

The Chairman, Commr. Swartz, opened the meeting.

PRESENTATION

COMMUNICATIONS/RESOLUTIONS

Commr. Gerber presented to Ms. Ann Dupee, Editor, South Lake Press, a resolution congratulating the South Lake Press for its 80 years of service to the community.

ENVIRONMENTAL SERVICES/LANDFILLS/SOLID WASTE

Mr. Pete Wahl, County Manager, stated that he had met with staff and Mr. Rick Patterson, Public Financial Management (PFM), as directed at the last Board Meeting, concerning the solid waste issue and noted that he wished to address four (4) items with the Board, the first being that, by previous Board action, staff had been authorized to prepare a five year assessment notice, but, due to the fact that the County will be doing a generation study over the course of the next year or so, requested that the Board rescind the previous five year assessment notice directive and direct staff to prepare a two year assessment notice, with the intent that staff revisit it once the generation data is available and fully analyzed.

Mr. Wahl stated that the second item pertained to the meeting date, which he suggested be set for August 26, 1993, at 5:30 p.m., at Tavares Middle School, and the third item was a request that the Board authorize a temporary loan from both the Solid Waste Reserve Fund and the County Transportation Trust Contingency Fund to pay for the cost of installing the liner at the Astatula Landfill. He stated that, because of cash flow requirements, staff was suggesting that said funds be repaid from construction fund financing occurring prior to September 30, 1993. He stated that the bid for the liner is in the process of being advertised and is due to come back before the Board at the end of July and staff needs to ensure that there are funds available to encumber against the cost of that liner. He also requested that the County Attorney be directed to draft a resolution authorizing said loan.

Mr. Wahl stated that the fourth item dealt with permission to solicit bids for capital note financing to cover the cost of the solid waste capital projects over the next two years.

On a motion by Commr. Cadwell, seconded by Commr. Bailey and carried unanimously, the Board approved a request from the County Manager to issue a two (2) year assessment notice rather than a five year assessment notice, as previously directed, and approval of a not-to-exceed disposal fee for FY 94/95 of $93.00 per ton.

On a motion by Commr. Hanson, seconded by Commr. Gerber and carried unanimously, the Board approved a request from the County Manager to set a public hearing dealing with the solid waste assessment program for August 26, 1993, at 5:30 p.m., at the Tavares Middle School Auditorium

On a motion by Commr. Bailey, seconded by Commr. Gerber and carried unanimously, the Board approved a request from the County Manager for authorization to temporarily borrow from the Solid Waste Special Reserve Account $643,676.00, from the Solid Waste Contingency Fund $641,270.00, and from the CTT Contingency Fund $1,000,000.00, to pay for the liner installation cost at the Astatula Landfill.

Repayment of said funds to come from construction fund financing occurring prior to September 30, 1993.

Mr. Rick Patterson, Public Financial Management (PFM), appeared before the Board stating that, at the Board Meeting of June 8, 1993, the Board authorized staff to issue an RFP (Request for Proposal) for a Letter of Credit with a local bank to provide money for capital financing for the solid waste system. He stated that, since that time, PFM has worked with Commr. Swartz and staff in looking at some alternatives for a line of credit that may provide the County with a lower borrowing cost. He stated that, at the Finance Committee Meeting held on June 21, 1993, concerning the issue of converting the bonds, a number of alternatives were discussed and a meeting was set for July 1, 1993, at which time those alternatives will be evaluated.

Mr. Patterson stated that one of the most attractive alternatives, at this time, is the one year note borrowing and that the team would probably make a recommendation to the Board, at some time in the future, to discuss the recommended financing instrument. He stated that his team is looking at some other alternatives, noting that there may be some cheaper borrowing methods than the line of credit. He stated that, regardless of which approach is recommended, they want to make sure that they meet the timing requirements for solid waste, because those monies are needed as quickly as possible, and noted that they would be mindful of the debt service amounts that have been budgeted for the next two years, for the rates that the Board is prepared to publish, and not exceed those rates. He stated that they did not need any Board action at this time and that they would be coming back before the Board, over the next two to three weeks (probably July 13, 1993), with a recommendation.

A brief discussion occurred.

On a motion by Commr. Hanson, seconded by Commr. Cadwell and carried unanimously, the Board approved a request from the County Manager to authorize staff to solicit bids for a short-term capital note financing.

There being no further business to be brought to the attention of the Board, the meeting was adjourned at 3:45 p.m.

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G. RICHARD SWARTZ, JR., CHAIRMAN

ATTEST:

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JAMES C. WATKINS, CLERK

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