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amount. It is the upper range of credit rating agency expectations for strong municipal <br />credits. Orange County should strive to meet the policy as part of maintaining Its current <br />favorable credit rating. <br />FINANCIAL IMPACT: As presented In the attached materials currently Identified impacts result <br />In a reduction of over $3.5 million In resources available for the FY 2011 budget. The major <br />factor involved is the increase in debt service of $3.7 million. 'Debt previously issued causes <br />$2.5 million of this increase with the remaining $1.2 million. corning from debt projected to be <br />issued in the latter parr. of FY201 . <br />RECOMMENDATION(S)a. The Manager recommends that the Board review and discuss the <br />information provided as it relates to the upcoming Capital Investment Program update, <br />