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• Authorizes the Finance Director, in consultation with the LGC, to set the final payment <br />schedule. <br />• Authorizes the County Manager and Finance Director to prepare an appropriate form of <br />Official Statement to provide relevant information to potential bond purchasers. <br />• Makes the required continuing disclosure commitments. <br />• Authorizes County staff to complete the process of issuing bonds. <br />The resolution has been prepared by Bond Counsel in compliance with the requirements of the <br />LGC. <br />FINANCIAL IMPACT: There is no immediate fiscal impact, however, once the refunding is <br />complete, the County would realize annual savings of approximately $109,000 in debt <br />payments. Savings for the remaining term of the bonds would be in the neighborhood of <br />$1,500,000. Estimated debt service payments on the 2001 bonds will be provided once the <br />sale amount is determined. <br />RECOMMENDATION(S): The Manager recommends that the Board conduct the Public <br />Hearing, adopt the bond order, the resolution for band order publication and the resolution <br />formally authorizing the sale of the 2001 bands and the refunding bonds. <br />