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Commissioner Nelson said that he is less confused about bond money and paying off <br /> the debt. He asked for a list of bond money from projects and Frank Clifton said that staff <br /> would have to go back and determine this. <br /> Michael Talbert said that there are project ordinances and they become part of the <br /> minutes. He can research the project ordinances and find out when action was taken and <br /> why. He said that a yearly work session would be outstanding. Regarding funding sources, he <br /> said that it would be difficult to get this information. For example, Lands Legacy has three <br /> different bond issues and there have been many transfers in and out of this project. It is very <br /> complicated to keep up with. Regarding bond funds, he said that the County can reuse them <br /> for debt service and they can be allocated for other bond projects or anything else that bond <br /> money could be spent on. <br /> Chair Foushee thanked all that were involved in bringing this forth to the Board. She <br /> said that the comments made have indicated the frustration that the County Commissioners <br /> have had over the course of several years with the information that has been brought forward. <br /> She said that she is more comfortable with the information that she has received tonight than <br /> she has been in the five and a half years of being a County Commissioner. It is clear that <br /> more information is needed before approving this last item. She would hope that the <br /> information brought forward can come as soon as possible so that everyone understands what <br /> is happening. <br /> Commissioner Hemminger said that there is no problem with attachment 2, but the <br /> problem is in attachment 3 and that the County Commissioners needs more information on <br /> those first 12 projects. She said that saying that there is $300,000 that can be spent on Twin <br /> Creeks and then coming back and saying there is a shortfall of $900,000 is too confusing. <br /> A motion was made by Commissioner Hemminger, seconded by Commissioner Nelson <br /> to take Attachment 2, close out those projects and move the money to the County Capital <br /> Projects Fund Balance and take the other sources of available funds and close them out and <br /> move them to the Capital Projects Fund Balance, and get more information on the other <br /> projects before moving forward. <br /> Commissioner Yuhasz said that he needs a chart of the different funds. <br /> Michael Talbert said that the Capital Reserve Fund is what the Board just discussed <br /> setting up. This is money set aside for a future purpose. The County Capital Project Fund, <br /> where all of these 84 projects reside, is a separate fund. When those projects are closed out, <br /> it goes into that fund balance. That fund balance can then be used like the general fund <br /> balance is used for other projects. <br /> Commissioner Gordon said that on Attachment 2 the Board still needs some <br /> descriptions on these projects first, especially for the bond projects. <br /> Commissioner Jacobs said that there is $144,000 from two bond projects that have <br /> available balances that are going to be closed — the Homestead Aquatic Center and Southern <br /> Park. He said that just moving this money into a reserve will not help with using the bond <br /> money. He suggested designating this toward debt or something. <br /> Michael Talbert said that there is a shortfall list on the next motion. <br /> Commissioner Gordon asked for the motion to be restated. <br /> Commissioner Hemminger restated the motion: <br /> Take Attachment 2, close out those projects and move the money into the Capital Fund <br /> Balance and take the other sources of available funds and close them out and move them into <br />