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550 <br />must be articulated so that taxpayers are able to understand the reasons <br />for that shift. <br />Neil Pedersen, Superintendent of the Chapel Hill-Carrboro School <br />System stated that the class size needs to be reduced and that cannot be <br />accomplished unless additional schools are built. Also, advanced, <br />technology requires that a higher level of funding be approved. <br />Chair Carey asked that agreement be reached on which policy issues <br />need to be discussed. The issues include reallocation of the sales tax, <br />options for pay-as-you-go funding for elementary schools, and year-round <br />schools. <br />Exceeding state standards must be tied to additional functions being <br />performed by an individual school. Countywide standards need to be <br />established with the understanding that site based management will require <br />each school to also establish specific standards. <br />Commissioner Willhoit requested that strategies be identified to <br />maximize the efficient use of tax dollars. The point of origin for sales <br />tax will be researched so that the maximum benefit possible will come to <br />orange county. <br />Commissioner Gordon stressed the importance of the "SHOP ORANGE" <br />campaign. <br />Sally Kost distributed handouts on the following issues: <br />--Current Facilities Size, Capacity and 10th Day Membership <br />Current School Capital Policy <br />--Tax Base Growth Compared to 1/2 Cent Sales Tax Growth <br />--Estimated Debt Service Payments - School Debt <br />-Debt Service for School Construction/Expansion for PAYG <br />-Per Cent of Revenue from Impact Fees as outlined in the Technical <br />Report <br />Sally Kost explained that if General Obligation Bonds are issued they <br />would be financed over a 20 year period. The principal would be paid at <br />a flat rate with interest paid at fluctuating rates. <br />John Link mentioned that county staff and school district <br />Superintendents have been in dialogue about ways to finance schools in the <br />future. The School Issues Task Force has reached consensus that <br />increasing the property tax for this purpose is not an option at this <br />time. <br />Chair Carey agreed that using a property tax increase was not an <br />acceptable option at thzs time. Certificates of Participation (COP) or <br />bonds are both possible options. Whichever options are chosen need to be <br />discussed with the School Boards and be clearly articulated to the general <br />public. <br />Commissioner Insko agreed the property tax should not be used to fund <br />school facilities at the present time.