Minutes - 19880707 - Laserfiche WebLink

Browse Search

i ~~~ With reference to increasing the amount of money for the schools, -- Commissioner Willhoit questioned the implication of the percentages of sales tax proceeds with the policies which aze now in place and asked where the pay- as-you-go monies that are earmarked for school capital would go if a larger amount for the bond was considered for the schools. He stated that if more of the County projects were shifted to the pay-as-you-go basis without changing the percentages going to school, capital, there may not be sufficient revenues to do the county projects. Manager John Link explained that it would shift the emphasis on the property tax. With the proposed 30 million bond the property tax increase of three cents would be made up of two cents for school bonds .and one cent for county projects. He pointed out that if more money did go to the schools and less for county projects that the county projects would then need to be funded on a pay-as-you-go basis which would mean that there would be a delay in doing these projects. Chair Marshall emphasized the importance of funding those projects that need to be done immediately to meet the needs of the schools. With a larger bond issue more of the pay-as-you-go monies would need to be used for debt service instead of continuing projects to meet the future needs of the schools. She stated that there will not be that much more money if it is all spent up front because a lot of the money is categorized from where it comes from and if there is less money spent on the bond issue there will be more money in capital reserve to meet the needs of the schools as the other projects are completed. Link explained that a significant amount of money would be available for school capital each year for funding on a pay-as-you-go basis. Specifically, in 1990 2.9 million, 1991 2.1 million, 1992 2.3 million and in 1993 2.6 million would be available for these projects. He explained that the proposed bond amount plus pay-as-you-go monies represents 76~ of what was requested by the schools and 74$ of the county projects requested. In answer to a question from Superintendent Gerry House about the proposals that were submitted by each school system which listed the projects to be funded by a bond issue; Chair Marshall explained that Orange Caunty Schools had prepared their request so that they would be tight as a drum at the end of five years and Chapel Hill Carrboro Schools went beyond the five year period. Commissioner Halkiotis immediate needs as well that those needs that are placed ahead of the pools needs of the schools a additional requirements on to be done for compliance. stated he realizes that the two school systems ha'v'e as the County and the Animal Shelter. He suggested not taken care of with the bond issue should be nd the pools postponed until the other construction e completed. The Basic Education Plan will place the teachers and space requirements that will need In answer to an inquiry from Commissioner Carey, Ellen Liston noted that fzom the point where the Notice of Intent is published no amounts may be increased but may be decreased. After the bond order is introduced, no changes may be made without beginning the process again with the Notice of