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5. County and School Projects Approved by the BOCC for Debt Financing: This is for the Debt Issuance Schedule endorsed by the Board on May 5, 2004 {attachment 5). A motion was made by Cammissianer Gordan, seconded by Cammissianer Brown to approve the Debt Issuance Schedule as included. Chair Jacobs asked about same of the items that are not going to be completed until a lot later. Far example, the aquatic center will not be completed until 2006. He asked if the debt issuance was needed this year for those projects, or whether they could be delayed. Southern Community Park is another example. Donna Dean said that they consulted with Chapel Hill and this was based on the information from Chapel Hill according to their cash flow needs. Rod Visser said that the County is not paying the Town of Chapel Hill. The Town will front the money, and the County will reimburse them as it is spent. Rod Visser said that Ken Chavious has done extensive review with the Local Government Commission and with the bond council about cash flows and they do not let the County sell bands too far in advance. Chair Jacobs asked that the staff just check the timelines on these projects, including the greenways. VOTE: UNANIMOUS 6. Approval of the 2004-05 Capital Investment Plans John Link said that the Board has addressed all issues of immediate concern and that relate directly to the Capital Improvement Plans for the schools and the County for the next year. The Board should adopt the Capital Investment Plans for the County and the schools as a planning document. The staff encourages the Board to qualify any communication that should be made to the school systems about it being a planning document. The Board discussed approving this in principle. There will be further discussion on the specifics in the coming months. John Link encouraged the Board to adopt this as a "plan." This is only a placeholder. A motion was made by Commissioner Brown, seconded by Commissioner Halkiotis to approve the Capital Investment Plan for fiscal year 2004-05. Chair Jacobs suggested that on June 23rd that the staff suggest which work session they will address these CIP issues in detail. Rod Visser said that by the Board approving this, it would satisfy the SAPFO requirements. UOTE: UNANIMOUS Chair Jacobs said that this includes the County's and the schools' CIPs. Commissioner Halkiotis said that this year has been a challenging year and there is too much paper. He would like to help with an in-house assessment. He said that the volume of material is almost out of control. 7. Conclusion of the Budget Discussions Chair Jacobs said that the County should look at its own continuation budget, just like the schools are, with a lot more rigor. He is not sure this can be done from the inside. He said that