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Jahn Link made reference to pages 2 and 3 of the blue hand out and the two-thirds net debt <br />projects of $4.2 million. They are asking that the Board adopt the $4.2 million, but some of the <br />projects can be discussed further after the break. <br />Donna Dean painted out the yellow sheet that has been updated regarding the parks operations <br />base at the public works facility. This project has been increased to allow far the parks <br />operations base that the Board will be deciding on at the last meeting. <br />Commissioner Gordon said that awhile back, she asked to look at the graphs about the <br />County's Annual Debt Service Projections. She said that the graphs show that in 2006-07, the <br />County is hitting its debt capacity. She is concerned about this. Donna Dean said that they <br />would not go over their debt capacity. This would be the peak debt service year for the 2001 <br />bonds. <br />Commissioner Gordon said that debt sales would be piled on in 2006-06, which leads the debt <br />service projections to ga up in 2006-07. She realizes that this is not past the debt service <br />capacity, but it is at capacity, so there is not much flexibility far unanticipated needs. <br />Chair Jacobs asked and Ken Chavious explained that there were two bond orders far two <br />purposes - $3.9 million for County facilities and $300,000 for land. The County Commissioners <br />can change the amount for a project or eliminate the project altogether. <br />John Link clarified that adopting the two-thirds net debt in no way commits the Board to the <br />amount of the project or the project itself long term. <br />Commissioner Halkiotis said that Board needs to move on these items. He is embarrassed <br />about the state of the courthouse. This should be repaired immediately. There are no schools <br />in the County in this kind of condition. <br />A motion was made by Commissioner Halkiotis, seconded by Commissioner Brown to endorse <br />the two-thirds net debt of $4.2 million for fiscal year 2004-05. <br />VOTE: UNANIMOUS (but Commissioner Gordan had concerns about the debt service <br />capacity) <br />4. Review and Approve Schools 2004-14 Capital Investment Plan (CIP) <br />The total pay-as-you-go projects far Orange County Schools for fiscal year 2004-05 is a little <br />over $1 million. This includes the alternative school, Orange High School renovations and <br />technology projects. <br />A motion was made by Commissioner Gordon, seconded by Commissioner Carey to approve <br />the Orange County Schools pay-as-you-go projects for fiscal year 2004-05. <br />VOTE: UNANIMOUS <br />The total pay-as-you-go projects far Chapel Hill-Carrboro City Schools for fiscal year 2004-05 is <br />$250,000. This includes compliance with Americans with Disabilities Act; abatement projects; <br />doors, hardware, and canopies; and fire, safety, and security systems. The rest of the pay-as- <br />you-go money is dedicated to High School #3, which is addressed separately. <br />A motion was made by Commissioner Brown, seconded by Commissioner Halkiotis to approve <br />the Chapel Hill-Carrboro City Schools for fiscal year 2004-05. <br />VOTE: UNANIMOUS <br />