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Resolution making a preliminary determination <br /> to proceed with 2009 alternative financing <br /> WHEREAS, <br /> The Board of Commissioners of Orange County has previously determined <br /> to undertake the acquisition and construction of various projects, as described <br /> below. In addition, the Board has previously determined to finance costs for these <br /> projects by the use of an installment financing, as authorized under Section 160A- <br /> 20 of the North Carolina General Statutes. <br /> County staff has advised the Board that it would be desirable for the Board <br /> to adopt this resolution making a preliminary determination to proceed with the <br /> financing, and taking appropriate related action. <br /> BE IT RESOLVED by the Board of Commissioners of Orange County, <br /> North Carolina, as follows: <br /> 1. The County makes a preliminary determination to finance project <br /> costs, as follows: <br /> Component Estimated Maximum Amount ($) <br /> County campus and 25,000,000 <br /> library development <br /> Parks and open space projects 5,500,000 <br /> Affordable housing projects 1,400,000 <br /> Tax System 1,500,000 <br /> Solid waste equipment 217,000 <br /> The Board will determine the final list of projects to be financed, and the <br /> final amount of financing, by a later resolution. The total amount financed may <br /> reflect adjustments to the amounts listed above and may include amounts for <br /> financing costs. <br /> 2. The Finance Officer is authorized and directed to take all appropriate <br /> steps toward the completion of the financing, including (a) completing an <br /> application to the LGC for its approval of the proposed financing, and (b) soliciting <br /> one or more proposals from financial institutions to provide the financing. <br /> 98262v1 <br />