FOR IMMEDIATE RELEASE

Contact:  Pete Winton, Lee County Administration
               (239) 335-2777

BOARD OKs PURSUING BOND REFINANCING/APPROVES TERRY PARK COSTS

FORT MYERS, Fla. (August 10, 2004) - The Board of Lee County Commissioners today approved the following items during its regular weekly meeting (backup can be viewed at
http://www.lee-county.com/meetings/agendafiles/2004/08-10-04/081004/081004.htm). They are:

Debt Savings - Authorized staff to begin the process for refinancing $28.3 million of bonds originally issued in 1995 to help pay for the overpasses at Colonial and Del Prado boulevards as part of the Midpoint Memorial Bridge project. Present market conditions indicate a possible overall savings of $1.9 million if the bonds are refinanced at lower interest rates.

Terry Park - Approved a guaranteed maximum price of $701,697 for Compass Construction to replace the bleachers at Terry Park's historic Pigott Stadium.

Island School - Approved and accepted a deed for the donation of two parcels from the Gasparilla Island Conservation and Improvement Association for the Island School project. The property is under the current tennis courts, which will be the site of the community center expansion that will serve as the Island School.

Causeway Permitting Help - Approved a $276,000 contract with Dawson & Associates to provide permit assistance for the Sanibel Causeway Bridge Project. Dawson & Associates is a Washington D.C.-based government relations firm, specializing in legislative and issue advocacy.