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These actions are statutory requirements, and the documents have been prepared in <br />accordance by Bob Jessup, the County's Bond Counsel. <br />FINANCIAL IMPACT: There is no impact on the current year 2002-2003 budget. Annual <br />savings of approximately $125,000 are estimated for the fiscal year 2003-2004 and thereafter. <br />Savings for the remaining 11-year term are estimated to be nearly $1,400,000. Issuance costs <br />for the refunded bonds are 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 />