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i 23 <br />® our fund when the bonds are issued. A Resolution will be presented at the meeting authorizing <br />this loan. <br />After August 17i' - Schedule meeting with Local Government Commission to discuss structure of <br />issuing debt for the Project <br />August 19'h - Hite & Associates begin design work on the renovation - Phase 2 <br />September 20th - Meeting with Board of Education and Hite & Associates to give update on design <br />work - show plan of renovation and reconstruction. <br />October 1s`- Hire Bond Counsel and Financial Advisor to help find market for QZAB and QSCB bonds. <br />December 1"- begin the issuance of debt. QSCB will be first. QZAB will be issued once bidding starts <br />as will the borrowing of any additional dollars to complete the project. County can now borrow up to <br />$30,000,000 in bank qualified loans (ends December 31, 2010), up from $10,000,000. This will save <br />the County a considerable amount of money in issuance costs versus bonds or COPS. <br />• <br />• <br />4 <br />