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r,..~... <br />ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />ACTION AGENDA ITEM ABSTRACT <br />Meeting Date: March 11, 1998 <br />Action Agenda <br />Item No. 2 <br />SUBJECT: County Capital and Debt Management Policies <br />DEPARTMENT: County Manager/Finance PUBLIC HEARING: (Y/N) Na <br />BUDGET AMENDMENT: (Y/N) Nv <br />ATTACHMENT(S): <br />County Capital Policy <br />Draft Debt Management Policy <br />INFORMATION CONTACT: <br />Rod Visser, ext 2300 <br />Ken Chavious, ext 2453 <br />TELEPHONE NUMBERS: <br />Hillsborough 732-8181 <br />Chapel Hill 968-4501 <br />Durham 688-7331 <br />Mebane 227-2031 <br />PURPOSE: To review the County's revised capital policy and proposed debt management policy. <br />BACKGROUND: In February 1998, the Board of Commissioners updated the County's capital <br />funding policy. The most significant change is an increase in the level of project detail required in <br />County and school capital project ordinances and ordinance amendments. The Board also reviewed <br />and edited a proposed debt management policy that will help ensure that the County maintains a <br />sound debt position, that its credit quality is protected, and that demonstrates a commitment to long <br />term financial planning objectives. <br />County staff will provide brief overviews of both policies and respond to questions that the Boards <br />may have. <br />RECOMMENDATION(S): The Manager recommends that the Boards receive the reports as <br />information. <br />