Orange County NC Website
Browse       Search
tax rate equivalent impact of approximately 2.33 cents. This debt service impact will be higher <br /> in initial years, although the County expects to complete financing arrangements that reduce <br /> debt service payable in the 2009-2010 fiscal year. This debt service impact is contemplated in <br /> the County's existing capital investment program and is consistent with the Board's previously- <br /> approved debt policies. <br /> (6) The County Attorney is of the opinion that the proposed projects are authorized <br /> by law and are purposes for which public funds of the County may be expended pursuant to <br /> the Constitution and laws of North Carolina. <br /> BE IT FURTHER RESOLVED that all actions of the County's Finance Officer and other <br /> County representatives in filing an application with the LGC for its approval of the project and <br /> the proposed financing arrangements, and otherwise in furtherance of the completion of the <br /> contemplated financing, are ratified, approved and confirmed, and that this resolution takes <br /> effect immediately. <br /> Commissioner Gordon said that she needed clarification about the amount of money to <br /> be requested. Gary Humphreys said that the total amount of projects is $33,617,000, but in <br /> order to qualify for the bank qualification, it would have to be reduced to $30 million. <br /> There was no public comment. <br /> Commissioner Gordon said that she has been looking at the financial impact of this <br /> debt issuance and the county's policy about debt. She said that she could not vote for this <br /> until she knows more about the effect this debt has on the county's debt capacity. She said <br /> she could not agree with Finding #1 of the resolution that the proposed projects are necessary <br /> and appropriate for the County under all circumstances. She also would like to know which <br /> properties the County is going to divest. <br /> A motion was made by Commissioner Hemminger, seconded by Commissioner <br /> Pelissier to close the public hearing, make the findings of fact as set forth in the attached <br /> resolution for the projects and the proposed financing as prescribed under the guidelines of <br /> the North Carolina Local Government Commission; and adopt the resolution supporting the <br /> application to the Local Government Commission for approval of the financing arrangements. <br /> VOTE: Ayes, 5; No, 1 (Commissioner Gordon) <br /> Commissioner Yuhasz said that the Board is supposed to be seeing something on <br /> March 17th about possibly delaying some of this. <br /> Commissioner Gordon said that this should be discussed on March 51h at the budget <br /> work session. <br /> 6. Regular Agenda <br /> a. Phase One: Assessment of the Fire/Rescue Services System in Orange <br /> County <br /> The Board received a strategy for reengaging a fire/rescue study and considered <br /> authorizing an informal solicitation of competitive proposals from qualified organizations to <br /> conduct Phase One: Assessment of the Fire/Rescue Service System in Orange County. <br /> Emergency Services Director Frank Montes de Oca summarized the abstract. <br />