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162 <br /> Memorandum <br /> Board of County Commissioners <br /> December 23, 1986 <br /> Page 2 <br /> 4. Pay-as-you-go - This has the advantages of no financing costs nor costs <br /> associated with a local referendum. The disadvantages are that the needs will <br /> probably outpace the funds available, and that there is an up-front burden <br /> to pay for the projects instead of spreading the repayment over the useful <br /> life. The County could do a combination bonds and pay-as-you-go approach <br /> by issuing bonds to the extent that could be supported by annual proceeds <br /> from the sales tax. <br /> 5. Impact fees - Enabling legislation is needed from the General Assembly <br /> before any fees can be enacted. It is not known at this time what type or <br /> amount of fee structure will be needed to fund the various projects that <br /> could benefit from the establishment of this type of fee. <br />