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$7 million for Lands Legacy. That is because the Lands Legacy Program is for land acquisition <br />for future parks and nature preserves. <br />What is the staff understanding of which projects are to be funded from Lands Legacy funds, <br />and which projects are to be funded from funds for parks and other specific projects? <br />Thank you in advance for your response to these questions and comments. <br />Alice Gordon <br />MEMORANDUM <br />To: Clarence Grier, Director of Financial Services <br />From: Michael Talbert, Deputy Director of Financial Services <br />4 <br />Date: January 19, 2011 <br />Re: Response to Question frorr Commissioner Alice Gordon <br />Question: <br />Item 7 -c <br />A. General Obligation Bonds <br />Yes you are correct in 2001 the voters of Orange County approved the issuance of $75 million <br />dollar of General Obligation Bonds. Included in the $75 million total was $20 million approved <br />for Parks and Open Space. And, in 1997 the voters approved a $56 million dollar Bond <br />Referendum which included $6 million for parks and recreation facilities. There was $3 million, <br />included the $6 million, pledged for the development of park facilities. <br />November 2001 Parks and Open Space Bonds: <br />Authorized $20,000,000 <br />Issued as of 12/31/08 $14,500,000 <br />Authorized and unissued 12 /31/08 $ 5,500,000 <br />On April 24, 2009 the BOCC approved the issuance of $28.2 million of alternative financing <br />bank qualified tax exempt debt;-,including $2.8 million for parks and open space. The BOCC <br />