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<br />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 <br />County campus and <br />library development <br />Parks and open space projects <br />Affordable housing projects <br />Tax System <br />Solid waste equipment <br />Estimated Maximum Amount ($) <br />25,000,000 <br />5,500,000 <br />1,400,000 <br />1,500,000 <br />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 towaxd 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 />9826~v1 <br />