Agenda - 10-06-2009 - Information

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50 tax rate equivalent impact of approximately 2.33 cents. This debt service impact will be higher in initial years, although the County expects to complete financing arrangements that reduce debt service payable in the 2009-2010 fiscal year. This debt service impact is contemplated in the County's existing capital investment program and is consistent with the Board's previously- approved debt policies. (6) The County Attorney is of the opinion that the proposed projects are authorized by law and are purposes for which public funds of the County may be expended pursuant to the Constitution and laws of North Carolina. BE /T FURTHER RESOLVED that all actions of the County's Finance Officer and other County representatives in filing an application with the LGG for its approval of the project and the proposed financing arrangements, and otherwise in furtherance of the completion of the contemplated financing, are ratified, approved and confirmed, and that this resolution takes effect immediately. Commissioner Gordon said that she needed clarification about the amount of money to be requested. Gary Humphreys said that the total amount of projects is $33,617,000, but in order to qualify for the bank qualification, it would have to be reduced to $30 million. There was no public comment. Commissioner Gordon said that she has been looking at the financial impact of this debt issuance and the county's policy about debt. She said that she could not vote for this until she knows more about the effect this debt has on the county's debt capacity. She said she could not agree with Finding #1 of the resolution that the proposed projects are necessary and appropriate for the County under all circumstances. She also would like to know which properties the County is going to divest. A motion was made by Commissioner Hemminger, seconded by Commissioner Pelissier to close the public hearing, make the findings of fact as set forth in the attached resolution for the projects and the proposed financing as prescribed under the guidelines of the North Carolina Local Government Commission; and adapt the resolution supporting the application to the .Local Government Commission for approval of the financing arrangements. VOTE:Ayes, 5; No, ~1 (Commissioner Gordon) Commissioner Yuhasz said that the Board is supposed to be seeing something on March 17th about possibly delaying some of this. Commissioner Gordon said that this should be discussed on March 5'h at the budget work session. 6. Regular Agenda a. Phase One• Assessment of the Fire/Rescue Services System in Orange County The Board received a strategy for reengaging afire/rescue study and considered authorizing an informal solicitation of competitive proposals from qualified organizations to conduct Phase One: Assessment of the Fire/Rescue Service System in Orange County. Emergency Services Director Frank Montes de Oca summarized the abstract.