Orange County NC Website
Browse       Search
<br /> <br />VOTE: UNANIMOUS. <br />~- Motion was made by Commissioner Hartwell, seconded by Commissioner Marshall to <br />approve the minutes for February 6, 1989 as circulated. <br />VOTE: UNANIMOUS. <br />Motion was made by Commissioner Marshall, <br />approve the minutes for February 21, 19$9 as <br />VOTE: UNANIMOUS. <br />Motion was made by Commissioner Hartwell, <br />approve the correction to the minutes o£ June <br />Subdivision and as submitted by the Glerk. <br />VOTE: UNANIMOUS. <br />PUBLIC CHARGE <br />seconded by Commissioner Hartwell to <br />amended. <br />seconded by Commissioner Marshall to <br />6, 19$8 as relating to Oak Crest <br />Chairman Moses Gorey read the public charge. <br />PUBLIC HEARING <br />1. BOND ORDER _ FARMERS HOME LOAN DISCOUNT PURCHASE PROGRAM <br />Jahn Link made reference to the FmHA discount purchase program and listed the <br />options the County could pursue: <br />(l) buy out the current $200,000 loan with current reserves we have at a <br />discounted price of $120,000, or <br />(2) buy out the loan with a refunding bond which will be financed by a local <br />bank, or <br />(3) keep the current FmHA loan <br />A public hearing was scheduled last Wednesday night so that the County could <br />leave open the option to refinance the FmHA loan with a local bank. Because of <br />;,., inclement weather the meeting was not held. The staff recommends to the Board that <br />"~` the County buy back the loan with current reserves ( current capital funds and funds <br />from the Efland Sewer Account) which will save the County $34,000 oven the term of the <br />loan. If this recommendation is accepted, there is no reason to continue with the <br />,public hearing. If it is the desire of the Board to leave this option open, a new <br />public hearing date will need to be established. <br />The Board agreed to option one stating that the first source of funds to buy <br />out this loan should come from the Efland Sewer account. Finance Director Ellen <br />Liston will prepare a report on the Efland Sewer fund. <br />Motion was made by Commissioner Hartwell, seconded by Commissioner Halkiotis <br />to direct the staff to place on the next agenda a proposal to buy out the loan with <br />current reserves. <br />VOTE: UNANIMOUS. <br />D. RESOLUTIONS OR PROCLAMATIONS - NONE <br />E. REPORTS <br />1. EGONOMIC DEVELOPMENT COMMISSION STRATEGIG PLAN REPORT <br />John Gastineau, member of the EDC and Dave Maner, Vice-Chair of the Executive <br />Committee which prepared the Economic Development Strategic Plan made remarks about <br />those who served on the Executive Committee and asked that the Board study the <br />document as a whole. <br />Economic Development Director Sylvia Price emphasized that the items in the <br />document are not in any particular order of priority. There are twelve challenges and <br />for each challenge there are recommended strategies to address the challenge, and <br />