ORD-2009-039 - Playground Protective Surfaces Orange COunty Schools Capital Project Ordinance

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"2001 bonds? In previous capital project ordinances, it is shown that transfer from other projects in this ordinance eliminates that. The alternative financing replaces the 2001 bond funding that was to be used for this project. GENERAL COMMENTS A. Comments on capital ordinances in Sections 1, 2, 3 of the agenda materials 1. Correct any typos in the text of the ordinances. 2. Adopt a standard format for all capital project ordinances. 3. Make sure that for all capital project ordinances where it is applicable, the following sentence, or similar wording, is included in Section 1: "Alternate financing has been issued in place of 2001 bond funds." B. Comments on the proposed Capital Project Monitoring and Administrative Procedures Follow all of the procedures in Section 1 and apply them to the ordinances being considered, with particular attention to eliminating the use of the terms 'Transfer to Other Project" and Transfer from Other Project" POSSIBLE MOTION 1. Approve the amended capital project ordinances, as revised by the Commissioners during their discussion. This means that it is the capital project ordinances themselves that are being approved, and not the text explaining the ordinances in other parts of the agenda materials. 2. Approve the following statement with respect to the relationship of the 2001 bonds and alternative financing: The Board of County Commissioners (BOCC) has authorized the substitution of alternative financing for certain projects approved by the voters in the 2001 bond referendum. In the future the remaining $2.7 million debt may be issued as general obligation bonds, or as alternative financing. 3. Provide to the BOCC in the fall, preferably in September 2009, a status report on the 2001 bond projects, including the amount of 2001 bond funds (or substituted alternative financing) that was spent on each project. 4. Adopt the "Capital Project Monitoring and Administrative Procedures" in principle and provide the two school systems with an opportunity to comment. TWO ADDITIONAL POINTS Commissioner Gordon made two additional points about the capital project ordinances.