Orange County NC Website
Browse       Search
NOW, THEREFORE, I, Moses Carey, Jr., Chair of the Orange County Board of <br />Commissioners do hereby proclaim Sunday, December 8, 1996 to be <br />REV. JOHN R. MANLEY DAY <br />in Orange County and urge citizens to join in honoring Rev. Manley and <br />his many contributions, and to participate in the many activities that are <br />planned on Sunday, December 8, 1996 in his honor. This the 19th day of <br />November, 1996. <br />VOTE: UNANIMOUS <br />6. SPECIAL PRESENTATIONS - NONE <br />7. PUBLIC HEARINGS <br />A. SOUTHERN VILLAGE ELEMENTARY SCHOOL FINANCING AND LAND ACQUISITION <br />The Board of Commissioners previously established the November 19 regular meeting as the <br />time and place to conduct a dual-purpose public hearing related to the new Southern Village Elementary <br />School. The first public hearing, required by North Carolina statute, concerns the proposed installment <br />purchase financing agreement that will provide the funding for construction of the school. The second <br />required public hearing concerns the acquisition of the school site by Orange County from the Chapel Hill- <br />Carrboro City Schools. On November 7, 1996, the Chapel Hill-Carrboro Board of Education approved a <br />resolution requesting that the Orange County Board of Commissioners acquire title to the school site. John <br />Link introduced Bob Jessup as the bond counsel for this project. <br />Rod Visser presented the results of the bid proposal for the financing of this elementary <br />school. He recommends that the Board approve the finance agreement with BB&T who have offered the <br />financing the County needs for the $14 million elementary school at 4.92% which he feels is an excellent rate <br />and which will result in a savings over the 15-year period of $3.4 or $3.5 million. He highlighted the <br />advantages of going with BB&T as stated in the information distributed to the Board this evening. <br />Commissioner Gordon commended the staff for obtaining such a favorable interest rate but <br />expressed concern about having to act on this proposal tonight since she just received this information and <br />has not had time to read through the material. Geoffrey Gledhill indicated that the Board will have another <br />opportunity to review this information when the formal agreement is brought back for their approval. <br />The Public Hearing was open for citizen comments. There were no comments from citizens. <br />Commissioner Gordon made reference to the acquisition of the school site and noted that <br />these six acres are in the drinking water watershed. She would like to know what site considerations the <br />school system plans to use to comply with watershed protection. She also wants to know if the access is <br />adequate for buses or if there is going to be a separate entrance later. In general, she would like to know the <br />costs associated with developing this site and asked that the information be given to the Board by the school <br />system. <br />Chair Carey declared the public hearing closed. <br />A motion was made by Commissioner Wilihoit, seconded by Commissioner Halkiotis to approve the <br />resolution as stated below: <br />RESOLUTION APPROVING, IN PRINCIPLE, A FINANCING PLAN FOR SOUTHERN VILLAGE <br />ELEMENTARY SCHOOL, AND ACCEPTING TITLE TO THE PROPOSED SCHOOL SITE <br />WHEREAS: <br />The Board of Commissioners of Orange County, North Carolina, in collaboration with the school <br />boards for the two school administrative units in the County, has previously determined to proceed with a