Orange County NC Website
� <br /> 37 <br /> The Board of Gounty Commissioners {BOCC) has autnorized the substitution of <br /> alternative financing far cerkain prajects approved by the voters in the 2a01 <br /> bond referendum. In the future the remaining $2.7 million debt may be issued <br /> as gen�ral obligatian bonds, or as alternative financing. <br /> 3. Pravide to the BOGC in the fall, preferably in September 2009, a status report <br /> on the�OC�1 bond projects, includin� the amaunt of 2001 bond funds (or <br /> substitut�d alternative financing) that was spent on each project. <br /> 4. Adopt the "Capita( Project Monitaring and Administrative Procedures'" in <br /> principle and provide the twa school systems with an opportunity to c�mment. <br /> 5. Direct staff to make a reporfi on the Schoo! Capita3 Reserve Fund, 'sncluding a <br /> defini#ion of v�rhat ifi is and the history of its use. <br /> VCJTE: UNANIMC}US <br /> B. Lands Legacy Budget <br /> David Stancil provides the Board an annual update called the "Lands Legacy Funds Status <br /> Report" each year. He is scheduled to present this update to the BOCC at the February 15, <br /> 2011 Board Meeting. Attached is information on Lands Legacy expenditures furnished to the <br /> Board as of July 1, 2009. <br /> With the approval of items 7.c & 7.d on 1/20/11 we will close out much of the Lands Legacy 10 <br /> year history. Financial Services and the Department of Environment, Agriculture, Parks and <br /> Recreation are in agreement as to the remaining funds available for future Lands Legacy <br /> projects as of July 1, 2010. <br /> I will be glad to sit down with every Commissioner and go over all projects funded over the past <br /> 11 years and the funding sources for each project if that will help you understand the history of <br /> Lands Legacy. <br /> MEMORANDUM <br /> To: Clarence Grier, Director of Financial Services <br /> From: Michael Talbert, Deputy Director of Financial Services <br /> Date: January 14, 2011 <br />