Minutes 09-20-2011 - Laserfiche WebLink

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c. Resolution Authorizinq Application to the Local Government Commission to Issue up to $17 million in General Obliqation Refundinq Bonds The Board considered approving a resolution authorizing application to the Local Commission to Issue up to $17 million in General Obligation Refunding Bonds to refund the 2004A&B General Obligation Bonds. Financial Services Director Clarence Grier introduced this item. He said that this would save approximately over$1 million and not the $846,000 as listed in the abstract. There would also be an annual savings of $70,000. Over the next 15 years, approximately $2.9 million in debt service will be saved over the next 15 years. One thing that has also happened is that the 2005 A&B is also eligible for refunding, which would be an additional $30 million. This is requested to be amended for the 2005 A&B, which would save approximately $300-500,000 in debt service, which would bring the total savings up to $3.5 million in debt service savings. Time is of the essence because this must be done by October 15tn A motion was made Commissioner Hemminger, seconded by Commissioner McKee to approve the attached resolution authorizing staff to proceed with an application requesting the Local Government Commission's approval to issue up to $20 million of refunding bonds for the purpose of refunding the 2004 A&B General Obligation Bonds of the County; and authorize Davenport and Company, LLC to serve as Financial Advisory and the firm of Sanford Holshouser, LLP, represented by Bob Jessup, to serve as Bond Counsel; with the addition of the 2005A&B General Obligation Bonds. VOTE: UNANIMOUS 9. Reports - NONE 10. County Manaqer's Report - NONE 11. County Attorney's Report -NONE 12. Appointments a. Advisory Board on Aqinq —Appointments The Board considered making appointments to the Advisory Board on Aging. A motion was made by Commissioner Yuhasz, seconded by Commissioner Hemminger to appoint Thelma Perkins to a second term ending June 30, 2014 and Leo Allison to a second term ending June 30, 2014. VOTE: UNANIMOUS b. Carrboro Northern Transition Area Advisory Committee —Appointment The Board considered making an appointment to the Carrboro Northern Transition Area Advisory Committee. A motion was made by Commissioner Yuhasz, seconded by Commissioner Jacobs to appoint Amy Jeroloman to a first term expiring January 30, 2014. VOTE: UNANIMOUS c. Historic Preservation Commission —Appointment The Board considered making an appointment to the Historic Preservation Commission. A motion was made by Commissioner Yuhasz, seconded by Commissioner Jacobs to appoint Joanna Lelekacs to a first full term ending March 31, 2013.