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1 � <br /> 1 DRAFT MINUTES <br /> 2 ORANGE COUNTY BOARD OF COMMISSIONERS <br /> 3 PLANNING RETREAT <br /> 4 SOUTHERN HUMAN SERVICES CENTER <br /> 5 February 19, 2010 <br /> 6 9:00 a.m. <br /> 7 <br /> 8 The Orange County Board of Commissioners met for a Board retreat on Friday, <br /> 9 February 19, 2010 at 9:00 a.m. at the Southern Human Services Center in Cfiapel Hill, North <br /> 10 Carolina. <br /> 11 <br /> 12 COUNTY COMMISSIONERS PRESENT: Chair Valerie P. Foushee and Commissioners Alice <br /> 13 Gordon, Pam Hemminger, Barry Jacobs, Bernadette Pelissier, and Steve Yuhasz <br /> 14 COUNTY COMMISSIONERS ABSENT: Commissioner Mike Nelson <br /> 15 COUNTY ATTORNEY PRESENT: John Roberts <br /> 16 COUNTY STAFF PRESENT: County Manager Frank Clifton and Clerk to the Board Donna S. <br /> 17 Baker, <br /> 18 SCHOOL OF GOVERNMENT FACILITATORS: Vaughn Upshaw (UNC School of Government) <br /> 19 <br /> 20 A motion was made by Commissioner Gordon seconded by Commissioner Hemminger to <br /> 21 approve adding a time sensitive item to agenda, Adoption of a Resolution Approving Qualified <br /> 22 School Construction Bond Financing for$4,136,434 for the Carrboro High School Arts Wing. <br /> 23 <br /> 24 Commissioner Gordon asked if the CHCCS knew about this revised resolution and Frank Clifton <br /> 25 said yes, staff had communicated this information to the school system. <br /> 26 <br /> 27 A motion was made by Commissioner Hemminger seconded by Commissioner Pelissier to <br /> 28 approve the Adoption of a Resolution Approving Qualified School Construction Bond Financing <br /> 29 for$4,136,434 for the Carrboro High School Arts Wing. <br /> 30 <br /> 31 Resolution Approving Revised Terms <br /> 32 For Carrboro Hiqh School Arts Winq Financinp <br /> 33 <br /> 34 <br /> 35 WHEREAS: <br /> 36 <br /> 37 On November 17, 2009, the Orange County Board of Commissioners approved terms <br /> 38 and documents related to the County's financing of the planned Carrboro High School arts wing <br /> 39 (the "ProjecY'). <br /> 40 <br /> 41 Completion of the financing has been delayed pending final approval by the North <br /> 42 Carolina Local Government Commission. This approval is now expected at the LGC's meeting <br /> 43 on March 2, 2010. Because of the delay, the initial financing commitment from Branch Banking <br /> 44 and Trust Company ("BB8�T") has expired. BB&T has renewed its offer to provide Project <br /> 45 financing. Because of changed market conditions, the new financing proposal calls for an interest <br /> 46 rate of 2.09%. <br /> 47 <br /> 48 BE IT RESOLVED by the Board of Commissioners of Orange County, North <br /> 49 Carolina, as follows: <br /> 50 <br />