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ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />ACTION AGENDA ITEM ABSTRACT <br />Meeting Date: October 4, 2011 <br />Action Agenda <br />Item No.~(~foPos~~ <br />SUBJECT: Adoption of Bond Order Authorizing General Obligation Refunding Bonds in the <br />Maximum Amount of $47,000,000 to Refund Public Improvement Bonds <br />Issued in 2004 and 2005 and Approve a Resolution Regarding Publication of <br />Road Order <br />DEPARTMENT: Financial Services PUBLIC- HEARING: (YIN) No <br />ATTACHMENT(S): INFORMATION CONTACT: <br />Bond Order Frank Clifton, 919-245-2300 <br />Resolution Regarding Publication of Clarence Grier, 919-245-2453 <br />Bond Order <br />PURPOSE: To adopt a bond order authorizing the issuance of General Obligation Refunding <br />Bonds in the maximum amount of $47,000,000 to refund Public Improvement Bonds issued in <br />2004 and 2005, and to approve a Resolution Regarding Publication of Bond Order. <br />BACKGROUND: At the September 20, 2011 meeting, the Board of County Commissioners <br />authorized staff to proceed with -the necessary steps to issue the maximum of $47 million in <br />General Obligation Refunding Bonds to refund the 2004A and 2005A General Obliga#ion Bonds <br />of the County. <br />In order to proceed with the refunding, the Board of County Commissioners must adopt a bond <br />order (attached) to issue the bonds. <br />Additionally the Board of County Commissioners must adopt a resolution (attached) authorizing <br />publication of a notice regarding the adoption of the bond order. <br />It is requested that the Board: <br />1) Adopt the Bond Order for the issuance of General Obligation Refunding Bonds in the <br />maximum amount of $47,000,000 to refund Public Improvement Bonds Issued in 2004 <br />and 2005; and <br />2) Adopt the Resolution Regarding Publication of Bond Order. <br />