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�27.4 <br /> Mr. Bergman presented a report to the Board of Commis- <br /> sioners on the activities of the Industrial Revenue and Bonding <br /> Authority for the past several months. He said there had not <br /> ' nn a great deal of interest from industry in development due <br /> to the high interest rates. He added that funds had been expended <br /> for the financing of a Metro Atla's which would be ready for dis- <br /> tribution..in. the next few months. ..Mr. Bergman cited. a letter._ , _.._ ... __ <br /> from former Board Chair, Anne Barnes, which inquired about a. <br /> ,ester and sewer extension policy for the County. He said as <br /> -A group the Authority was unclear about direction; that is, 'should <br /> such apolicy gave one option or include several options? He felt <br /> the Authority had not received enough guidance or staff support. <br /> Chairman Whitted said the Board of Commissioners needed to <br /> rethink its designation to the Industrial. Revenue and Bonding <br /> Authority; the basic question, as he sees it, is which agency in <br /> ?ran•Te- County should be the .lead authority in economic development. <br /> Chairman Whitted said the Board needed to decide to what extent the <br /> County is willing to finance water/sewer lines. Some Board members <br /> felt each such request for water/sewer extension should be decided <br /> on an individual basis while other Board members felt each option, <br /> with all the pros and cons, should be spelled out during policy <br /> development. <br /> Commissioner Willhoit moved, seconded by Commissioner Walker. ' <br /> to ask the Authority to develop a water and sewer extension policy <br /> i <br /> fir Orange County and that such a policy be based on a revolving fund <br /> concept with the specific mechanics left up to the Authority to <br /> jprFsent to the Board in the policy. Commissioner Marshall suggested <br /> i <br /> a friendly amendment, that the fund be self liquidating rather than <br /> ievolving. Commissioner Willhoit said he had no problem with that; <br /> basically he feels that the mechanics should be left up to the <br /> Authority to develop. <br /> The County Attorney told the Board it would have to have <br /> "specific statutory guidance" in any such policy for financing, <br /> interest rates, and method of repayment. Commissioner Willhoit <br /> said he felt that was a "mechanics" area which should be left to::the <br />