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(5) The County estimates that the maximum tax rate impact of paying debt service on <br />the financing for the new elementary school will be the equivalent of approximately 1.14 cents per <br />$100 of valuation. Given the County's need for the new school, the Board believes that such a <br />tax rate impact is reasonable under all the circumstances. <br />The County estimates that the tax-rate impact of the additional financing for County <br />projects will be negligible, especially since solid waste enterprise revenues will help pay debt <br />service on the financing for the convenience center improvements. Any refinancings will reduce <br />the County's debt service obligations. <br />(6) The County Attorney is of the opinion that the proposed projects are authorized by <br />law and are purposes for which public funds of the County may be expended pursuant to the <br />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 toward the <br />completion of the financing, including completing an application to the LGC for its approval of the <br />proposed financing. All prior actions of County representatives in this regard are regard are <br />approved, ratified and confirmed. <br />(b) This resolution takes effect immediately. <br />**************,~,~* <br />A motion was made by Commissioner Foushee, seconded by Commissioner Hemminger <br />to approve the issuance of approximately $25.5 million in alternative financing for Elementary <br />School #11 for Chapel Hill - Carrboro City Schools, $3.3 million for other County capital projects <br />and to refinance existing obligations, and approval of the resolution supporting the County's <br />application to the Local Government Commission for its approval of the financing arrangements. <br />The motion was revised to state $21.5 million instead of $25.5 million for Elementary <br />School #11 for the Chapel Hill-Carrboro Cify Schoo/s. <br />VOTE: UNANMOUS <br />c. 2030 Comprehensive Plan Map Amendment (CP-2011-05) Efland Area <br />The Board received the Planning Board's recommendation, considered closing the public <br />hearing, and making a decision on a County-initiated amendment to the 2030 Comprehensive <br />Plan Land Use Element Map affecting approximately 47 acres near Efland and Brookhollow <br />Road, along the south side of McGowan Creek (areas are currently classified as Agricultural <br />Residential and proposed for 10-Year Transition). <br />Comprehensive Planning Supervisor Tom Altieri made this presentation. He said that this <br />is the Planning Board's recommendation. He showed a map with the location of the parcel <br />suggested for amendment. The public hearing on this item was held November 21, 2011. The <br />draft minutes are included in the packet. The Planning Board unanimously recommended <br />approval of this amendment to the Board of County Commissioners. This amendment has been <br />proposed to maintain consistency between the County's land use plan and engineering design <br />work that is occurring in this area. He made reference to the pink sheet, which was the <br />resolution. <br />Commissioner Yuhasz said that the owner of this property is a client of his and it has <br />been determined that he would have no direct benefit from this action and he will be obligated to <br />vote on it. <br />NO PUBLIC COMMENT <br />