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a. Public Hearing on the Issuance of Alternative Financing for Capital Projects <br /> and Equipment and Adoption of Resolution <br /> The Board considered conducting a public hearing on the proposed issuance of up to <br /> $33,617,000 in alternative financing for capital projects and equipment and adopting a <br /> resolution supporting an application to the Local Government Commission for approval of the <br /> financing arrangements. <br /> Financial Services Director Gary Humphreys summarized this item. The Orange <br /> County Board of Commissioners has previously approved the following capital projects: <br /> - Acquisition and equipping of the County portion of the Gateway Center, County <br /> Office Building, and Library - $25,000,000 <br /> - Parks and Open Space Projects - $5,500,000 <br /> - Affordable Housing Projects - $1,400,000 <br /> - Solid Waste Equipment- $217,000 <br /> - Property Management Information System (PIMS) - $1,500,000 <br /> In addition, the Board made a preliminary determination to finance costs for these <br /> projects by the use of an installment contract as authorized under Section 160A-20 of the <br /> North Carolina general Statutes in an amount not to exceed $33,617,000. <br /> After the required public hearing, the Board is required to make certain findings of fact, <br /> which are included in the resolution, as shown below: <br /> Resolution supporting an application to the Local Government Commission for its <br /> approval of alternative financing arrangements for the County <br /> WHEREAS, <br /> The Orange County Board of Commissioners has previously determined to undertake <br /> certain capital projects, as further described below: <br /> Project Approximate Amount To Be Financed <br /> Acquisition and equipping of County portion $25,000,000 <br /> of Gateway Center, County office building <br /> and library, and library development <br /> Parks and open space projects $5,500,000 <br /> Affordable housing projects $1,400,000 <br /> Solid waste equipment $217,000 <br /> Property management information system $1,500,000 <br /> The Board has previously made a preliminary determination to finance costs for these <br /> projects by the use of an installment contract, as authorized under Section 160A-20 of the <br /> North Carolina General Statutes. <br />