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0 BOOK 16 PACE 79 <br />gross income of the owners thereof for federal income tax purposes pursuant to Section <br />103 of the Internal Revenue Code of 1986, as amended (the "Code"). <br />(6) The power to make any election on behalf of the Issuer with respect to the <br />arbitrage rebate provisions of the Code applicable to the notes is hereby delegated to the <br />Chairman of the Board of Commissioners and the Finance Officer of the Issuer. <br />Commissioner Cox seconded the motion, and upon a vote, the results were as follows: <br />Aye: Cox, Garner, Mansfield, Matthews, Moretz, Paschal and Reives <br />Nay: None <br />The Chairman ruled the motion had been adopted unanimously. <br />The Board considered a Budget Ordinance for E-911 Special Revenue Fund. <br />Finance Director Lisa Minter explained the budget ordinance to the Board and answered <br />questions. Commissioner Reives moved to approve the Emergency Telephone System <br />Fund Budget Ordinance, a copy of which is attached to these minutes and by this <br />reference made a part hereof. Commissioner Matthews seconded the motion, and upon a <br />vote, the results were as follows: <br />Aye: Cox, Garner, Mansfield, Matthews, Moretz, Paschal and Reives <br />Nay: None <br />The Chairman ruled the motion had been adopted unanimously. <br />The Board considered a resolution to extend Cencom Partners, L. P. Franchise. <br />County Attorney K. R. Hoyle explained the resolution to the Board and answered <br />questions. After some discussion Commissioner Paschal moved to approve the following: <br />WHEREAS, Lee County granted to the predecessors in interest to Cencom <br />Partners, L. P., a non-exclusive franchise to construct, operate and maintain a cable <br />system within Lee County; and <br />WHEREAS, the Board of Commissioners has heretofore extended the terms of the <br />franchise to January 31, 1997, pending completion of the franchise renewal process; and <br />WHEREAS, the system serving the unincorporated areas of Lee County originates <br />within the City of Sanford and the City of Sanford and Cencom Partners, L. P. are <br />currently negotiating for a renewal of that franchise, and <br />WHEREAS, it is necessary to further extend the term of the current franchise to <br />accommodate the renewal process; <br />3 <br />