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2 <br />These actions are statutory requirements and the documents have been prepared in <br />accordance by Bob Jessup, Bond Counsel. <br />FINANCIAL IMPACT: There is no impact on the current year, 2004 -2005 budget. Annual <br />savings of $109,000 are estimated for the fiscal year 2005 - 2006.. Savings for the remaining 13 <br />year term are estimated to be over $1,500,000. Issuance costs for the refunded bonds are <br />rolled into the refunding with no out of pocket costs to the County. <br />RECOMMENDATION(S): The Manager recommends that the Board introduce the Bond Order <br />and adopt the Resolution setting a date for a public hearing, authorizing the Finance Director to <br />file a Debt Statement and authorizing the Clerk to publish a Notice of Public Hearing. <br />