Orange County NC Website
� <br /> My first request is that staff verify this information on the two bond referenda. What are the <br /> correct amounts for the 1997 bond and the 2001 bond? <br /> B. Lands Legacy budget <br /> The next thing to do is to determine the correct amount for the 1997 bonds and the 2001 <br /> bonds in the Lands Legacy Project Budget, and how those amounts were determined. <br /> We should be clear about what is included in the Lands Legacy Program and what is not. For <br /> example, on page 4 of the agenda abstract, it is stated that funding the following three projects <br /> should have reduced the Lands Legacy project by $1,700,000: Homestead Aquatics, Cedar <br /> Grove Park, Fairview Park. <br /> According to my understanding, these three projects were to be funded from the $13 million <br /> dedicated to specific projects and not from the <br /> $7 million for Lands Legacy. That is because the Lands Legacy Program is for land <br /> acquisition 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 /> Date: January 19, 2011 <br /> Re:Response to Question from 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 />