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2 <br /> The process allows the County to reject all bids, so the County can <br /> pull out of the process at the last minute if it appears that market <br /> conditions are no longer favorable. Staff suggest that they be <br /> authorized to pursue this matter as long as a threshhold of $500,000 in <br /> cumulative savings can be achieved. <br /> RECOMMENDATION: The Manager recommends that the Board: approve the <br /> refinancing of 1989, 1990, and 1991 Series bonds if a minimum <br /> cumulative savings of $500, 000 can be realized; authorize the County <br /> Finance Officer to work with the Local Government Commission and Bond <br /> Counsel to take all required procedural steps; and authorize the <br /> Manager and Finance Officer to execute any written agreements needed to <br /> effect this refinancing. <br />