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District No.1 Commissioner: Phil Johnson
District No.2 Commissioner: David W. SuUlvan
District No.3 Commissioner: John Austin
County Administrator: Philip Morley
Clerk of the Board: Lorna Delaney
MINUTES
Special Meeting
August 17,2011
Chairman John Austin called the meeting to order at the appointed time in the presence of
Commissioner David Sullivan and Commissioner Phil Johnson.
Proposed Resolution re: Refunding (Refinancing) of 2003 Bond and Purchase of a
Bond for Jeffcom Services: Treasurer Judi Morris introduced James Nelson, Underwriter representing
Martin Nelson & Company, and Marc Greenough, Underwriter representing Martin Nelson & Company
who joined the meeting via telephone. Jim Nelson explained a printed summ,,'Y given to the Board.
Jefferson County was reaffirmed at an AA rating grade and in a challenging economy that is an
accomplishment. This is financing for Jeffcom software and a refinancing for the 2003 Limited Tax
General Obligation Bond. The combined net borrowing rate/cost for the seven year financing is 1.74%,
which is almost a new historical low. Total net savings on this transaction is estimated at $125,000.00.
Commissioner Johnson moved to approve RESOLUTION NO. 37-11 refinancing the Bond and
creating a new Bond for the Jeffcom services. Commissioner Sullivan seconded the motion which
carried by a unanimous vote.
Draft lnterlocal Jeffcom Agreement Renewal: County Administrator Philip Morley
presented a draft of an interlocal agreement with the City of Port Townsend and the five fire districts.
County Administrator Morley noted Deputy Prosecuting Attorney David Alvarez was present and
Sheriff Anthony Hernandez would be arriving shortly.
Commissioner Johnson left for a scheduled appointment.
After discussing part of the draft interlocal agreement it was determined that the draft would not be
accepted by the other entities involved. The Board directed County Administrator Morley and Deputy
Prosecuting Attorney Alvarez to continue to work on the agreement and present it to the Board at the
next Commissioner's meeting.
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Commissioners Special Meeting Minutes: August 17,2011
NOTICE OF ADJOURNMENT: Commissioner Sullivan moved and Chairman Austin
seconded the motion to adjourn the meeting at 1:20 p.m. until the next regularly scheduled meeting or
properly noticed special meeting. The motion carried.
MEETING ADJOURNED
JEFFERSON COUNTY
BOARD OF COMMISSIONERS
SEAL:
John Austin, Chair
ATI'EST:
Phil Johnson, Member
Raina Randall
Deputy Clerk of the Board
David Sullivan, Member
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