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32 Financial Services Director Gary Humphreys said that the rose sheets ( revised abstract and Attachment 2-dd) are revised because there were some typographical errors and other minor changes. He said that the main purposes of the capital project ordinances, sections 1 and 2, are to cover projects that need additional money because they were over budget. Commissioner Hemminger said that there is still disagreement with the school system about some of these numbers. She said that it is time to close the accounts out. Gary Humphreys said that the numbers of the sales tax were discussed with the school board and there was agreement. Commissioner Gordon said that she wrote two memos that she wants to enter into the record. She said that she talked with Laura Blackmon about the possible motion that has to do with a substitution of alternative financing for certain projects. Because of that discussion, she changed the second bullet of the motion. The two memos are included below. The first memo is shown as submitted by Commissioner Gordon. The second memo shows what Commissioner Gordon wrote in regular type, with comments given by Gary Humphreys in italics. MEMORANDUM To: BOCC and Manager From: Alice Gordon Subject: 2001 Bonds and Item 6-2e Date: June 16, 2009 Copies to Frank Clifton, Greg Wilder, Donna Baker, Gary Humphreys, Donna Coffey, David Stancil, John Roberts I have two points to make about the 2001 bonds in this memorandum. They are related to item 6-2e, Capital Project Ordinance Amendments, on tonight's agenda. (1) To follow up on a question asked by Commissioner Yuhasz, I believe that the BOCC should make a formal statement acknowledging the substitution of alternative financing for approved 2001 bond financing. Perhaps something like the following would be appropriate: 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. However, if in the future it is more advantageous to issue the remaining $2.7 million debt as general obligation bonds, the County will have the ability to do that if the action is first approved by the BOCC. (2) I believe that if the voters approved a certain dollar amount for a project, we should keep our commitment to them and appropriate that amount to that project rather than some other project. In at least one capital project ordinance under 6-2e that does not seem to be the case.