March 18, 1993Board of County Commissioners
Okeechobee County
March 18, 1993
John Drago, City Administrator
55 SE 3rd Avenue
Okeechobee, FL 34972
RE: Utility Appraisal
Dear John:
As a result of previous correspondence from your office relative to
the Utility Formation and Appraisal, the County has generated a
proposal that can move this process off dead center. The proposal
is this, and the County is looking forward to formal acceptance by
the City.
1. As a result of the appraisal process, the City Water System
will be contributed to the "Authority The value as derived by
the appraisal will be matched by the County and contributed to the
"Authority No funding will be afforded to the City for the
contribution to the Authority.
2. The County would request that spending of the recent bond issue
(5.5 million) money, be curtailed until the process of the Utility
Formation has a clear direction between the City and the County.
3. The County would request that any additional indebtedness not
take place until the process of the Utility Formation has a clear
direction between the City and the County.
Please let me know the City's position on this matter as soon as
possible, as any delays on this matter can be costly to the
resident users of the system.
Si a ely,
vid Ri ra
Financ Di ector
cc: C. Harvey, Chairman
J. Kirk, Mayor
J. Coker, OBWA
C. Chinault, County Administrator
CWC /rh
Susan B. Hughes Tommy Close Clif Betts, Jr.
District 1 District 2 District 3
Stephen Porter Charles W. Harvey
District 4 District 5 County Administrator