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48 <br /> <br />a. Public Hearing on the Issuance of Alternative Financing for Capital Pro)ects <br />and Equipment and Adoption of Resolution <br />The Board considered conducting a public hearing on the proposed issuance of up to <br />$33,617,000 in altemative financing for capital projects and equipment and adopting a <br />resolution supporting an application to the Local Govemment Commission for approval of the <br />financing arrangements. <br />Financial Services Director Gary Humphreys summarized this item. The Orange <br />County Board of Commissioners has previously approved the following capital projects: <br />- Acquisition and equipping of the County portion of the Gateway Center, County <br />Office Building, and Library - $25,000,000 <br />- Parks and Open Space Projects - $5,500,000 <br />- Affordable Housing Projects - $1,400,000 <br />- Solid Waste Equipment - $217,000 <br />- Property Management Information System (PIMS) - $1,500,000 <br />In addition, the Board made a preliminary determination to finance costs for these <br />projects by the use of an installment contract as authorized under Section 160A-20 of the <br />North Carolina general Statutes in an amount not to exceed $33,617,000. <br />After the required public hearing, the Board is required to make certain findings of fact, <br />which are included in the resolution, as shown below: <br />Resolution supporting an application to the Local Government Commission for its <br />approval of alternative financing arrangements for the County <br />WHEREAS, <br />The Orange County Board of Commissioners has previausly determined to undertake <br />certain capital projects, as further described below: <br />project Approximate Amount To Be Financed <br />Acquisition and equipping of County portion <br />of Gateway Center, County office building, <br />and library, and library development $25,000,000 <br />Parks and open space projects $5,500,000 <br />Affordable housing projects $1,400,000 <br />Solid waste equipment $217,000 <br />Pro a management informations stem $1,500,000 <br />The Board has previously made a preliminary determination to finance costs for these <br />projects by the use of an installment contract, as authorized under Section 160A-20 of the <br />North Carolina General Statutes. <br />