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Radio Relay League, Inc.; and <br />WHEREAS, this year's Amateur Radio Field Day will take place June 26-27, 2004; and <br />WHEREAS, Michael F. Easley, Governor of North Carolina, has proclaimed the week of June <br />20-27, 2004, as Amateur Radio Week in North Carolina; <br />NOW, THEREFORE, we, the Orange County Board of Commissioners, do hereby proclaim the <br />week of June 20-27, 2004, as "Amateur Radio Week" in Orange County, North Carolina, in <br />honor and recognition of Orange County Radia Amateurs and the important contribution they <br />make to the safety and well being of Orange County residents. <br />Adopted this 8th day of June 2004. <br />VOTE: UNANIMOUS <br />c. Next Steps Required for Approved Debt Issuance <br />The Board considered the required actions necessary to facilitate the issuance of debt <br />this summer in accordance with the debt issuance schedule presented to the Board on May 5, <br />2004; and establishing a Public Hearing on June 23, 2004 and authorizing the Finance Director <br />and other staff to proceed as indicated within the resolutions. <br />Finance Director Ken Chavious said that they are asking the Board to approve the next <br />required steps for the proposed issuance of $4.2 million in 213 net debt reduction bonds as well <br />as the issuance of approximately $15 million in certificates of participation {COPS). This is in <br />accordance with the debt issuance schedule endorsed by the Board on May 5`". In addition, the <br />County plans to issue $19.7 million in bonds approved by the voters in November 2001. Total <br />debt to be issued will be about $39.7 million. <br />One of the statutory requirements for this item is to introduce the two band orders for the <br />$4.2 million proposed -one is for public facilities for $3.9 million and another is for Lands <br />Legacy at $300,000. After introducing the band orders, the Board is required to hold a public <br />hearing prior to adopting the bond orders. The Baard is being asked to hold the public hearing <br />at the June 23`d regular meeting. The Board also needs to adapt a reimbursement resolution <br />that will allow the County to reimburse itself once funds are received for projects that must begin <br />before closing. Finally, the Board is being asked to adopt a resolution authorizing staff to <br />pursue the COPS financing. This debt falls within the parameters set forth in the County's debt <br />policy. <br />Commissioner Gordon asked several clarifying questions about the status of the <br />County's debt capacity, which were answered by Ken Chavious. <br />Commissioner Gordon said that this is helpful, but she wanted more elaborate charts <br />with bar graphs that he showed a few months ago that explained the debt capacity in mare <br />detail. Ken Chavious said that Donna Dean is working on this to bring back at a future work <br />session. Commissioner Gordon said that she would like this information well before the next <br />time this issue is to be discussed. <br />Commissioner Gordon said that June 23~d is the last meeting and it is late to have the <br />public hearing. Ken Chavious said that it was originally scheduled for a work session, but staff <br />felt that it was not appropriate to have a public hearing at a work session. He said that it could <br />not be much earlier than the 17t" meeting because of the advertising requirements. <br />Bob Jessup said that they would need to decide it tonight or tomorrow morning because <br />of advertisements. The Board agreed to leave the public hearing on June 23'd <br />A motion was made by Commissioner Carey, seconded by Commissioner Halkiotis to <br />introduce the Bond Order and establish a public hearing on June 23, 2004, adopt the required <br />