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7 <br /> to both the rural and urban citizens. <br /> Mr. Sim Efland noted he was a County Commissioner when the Board <br /> considered township representation. He commended the Board for what they have <br /> accomplished and stated that they need to get good people to run from the <br /> rural area. He suggested having township representation with an alternate in <br /> each township. He feels this would increase communications so that the people <br /> in the townships would know what is happening. <br /> Mr. Mark Marcoplos made reference to the report and stated he feels <br /> the racial division on the task force is not an issue. The main point is that <br /> no one spoke at the public hearing in favor of the current system. He hopes <br /> the process will continue. <br /> The County Commissioners received the report. <br /> B. SWIMMING POOL FINANCING PROPOSAL <br /> John Link explained the proposal as offered by the Municipal <br /> Financial Group, Inc. for financing a swimming pool. The financing mechanism <br /> would be the use of a 1163-20" Corporation Financing instrument that places the <br /> corporate debt on the Triangle Youth Hockey Association (TYHA) , not the <br /> County. The County must agree to accept title to the facility financed with <br /> the proceeds of the tax-exempt obligations when the tax-exempt obligations are <br /> discharged. Orange County could reconvey the title, but it must wait at least <br /> 90 days and there can be no pre-discharge agreement to reconvey. This <br /> proposal assumes that the facility will be built at the Meadowlands. <br /> Ben Lloyd of Efland expressed a concern that the County is willing <br /> to allocate funds to this project, yet do nothing about the raw sewage running <br /> down the ditches in Cheeks Township. He would like to see this money spent <br /> on solving the problem in Cheeks rather than on a swimming pool. <br /> Chair Carey explained that the County has built part of the sewer <br /> system in Efland, therefore, fulfilling its legal obligation. The County has <br /> filed two proposals for grants to extend the system further. Further <br /> extensions will be done with grant money and contributions from the people in <br /> the community who will benefit from using the system. <br /> There was an extended discussion concerning the merits of the <br /> financing proposal. Commissioner Insko wanted to know what circumstances <br /> would lead the manager to stop pursing this particular project. Chair Carey <br /> asked why the project was more feasible for the Municipal Financial Group than <br /> the banks. Commissioner Gordon posed several questions about the financing <br /> of the pool-ice rink complex and asked about the risks involved for the <br /> County. She was concerned that TYHA had essentially no collateral for the <br /> loan. Commissioner Willhoit wondered what would happen if the facility failed <br /> after a few years of operation. <br /> A motion was made by Commissioner Insko, seconded by Commissioner <br /> Halkiotis to adopt the resolution stated below which authorizes staff to <br /> continue negotiations that will produce final documents and agreements for the <br /> Board of County Commissioners to consider and to support continuation of the <br /> Small Business Technology Development Center to work with the TYHA to produce <br /> a final management plan that correlates with the financing proposal. <br /> R E S O L U T I O N <br /> WHEREAS, the Triangle Youth Hockey Association (the "Association") is <br /> a non-profit corporation created pursuant to Chapter 55A of the General <br /> Statues of North Carolina which has been in existence since 1981; and <br />