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approximately 1.14 cents per $100 of valuation. Given the County's need for the new <br />school, the Board believes that such a tax rate impact is reasonable under all the <br />circumstances. <br />The County estimates that the tax-rate impact of the additional financing for <br />County projects will be negligible, especially since solid waste enterprise revenues will <br />help pay debt service on the financing for the convenience center improvements. Any <br />refinancings will reduce the County's debt service obligations. <br />(6) The County Attorney is of the opinion that the proposed projects are <br />authorized by law and are purposes for which public funds of the County may be <br />expended pursuant to the Constitution and laws of North Carolina. <br />BE IT FURTHER RESOLVED as follows: <br />(a) The Finance Officer is authorized and directed to take all appropriate steps <br />toward the completion of the financing, including completing an application to the LGC <br />for its approval of the proposed financing. All prior actions of County representatives in <br />this regard are regard are approved, ratified and confirmed. <br />(b) This resolution takes effect immediately. <br /> <br />I certify as follows: that the foregoing resolution was properly adopted at a <br />meeting of the Board of Commissioners of Orange County, North Carolina; that such <br />meeting was properly called and held on February 7, 2012; that a quorum was present <br />and acting throughout such meeting; and that such resolution has not been modified or <br />amended, and remains in full effect as of today. <br />~a-~ <br />Dated this ~ day of February, 2012. <br />~? <br />~ ~ ~° ; ~ Do a S. Ba er <br />~~ Clerk, Board of Commissioners <br />~, ' ~ Orange County, North Carolina <br />'~ <br />~~`~~ 'S <br />~~° <br />