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~u~ <br />3 <br />h2otion v:as made by Commissioner Tr'7hitted, secondec+ by Chair t4illhait <br />to approve the letter of intent and authorize the Chair to sign. <br />VOTE: UNAP7II~5OUS. <br />A T A ,.7 7 <br />r9otion was made by Commissioner Idarshall, seconded lay Commissioner <br />t,7hitted to approve the recuest for obligation of funds in the amount of <br />5200.000 at an interest rate of 7.75ro and to set the amount of the grant at <br />5598,300. <br />VOTE: UNAP:IT•'lOUS. <br />~ n7 E E <br />I•Zurphy commented that the operating budget did not need to be adopted <br />at this time. No action was taken. <br />Commissioner t~7hitted c:irected the staff to prepare additional information: <br />(1) the list of conditions under which the County would extend w loan <br />of this type far a project. <br />(2) an extension policy based on the agreement with Hillsborough. <br />(3) future tap fees and in particular the five cents on the rate per <br />thousand. <br />Chair willhoit suggested a mechanism be worked out that would assure the <br />collection of fees. <br />Commissioner I_arshall suggested a policy be worked out with the Town of <br />Hillsborough that v;ould apply to all requests received. <br />T•'Iax Kennedy spoke on behalf of the Orange County Board of Education and <br />expensed appreciation for the IIoard's efforts in initiating the process and the <br />steps taken. <br />Lindsey Efland spoke on behalf of the community expressing appreciation <br />for the action taken thus far .by the Board. <br />Chair t•]illhoit expressed appreciation to the Board of Education and to the <br />citizens in the community for their participation. <br />AAJOURLII~iEP7T <br />t~Tith no further business to come before the Board, the meeting was <br />.adjourned at 9:30. <br />Don tVillhoit, Chair <br />Beverly P_. Blythe, Clerk <br />