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VOTE: UNANIMOUS <br />yet. <br />Chair Jacobs asked Rod Visser to find out if the three municipalities have adopted this plan <br />Commissioner Gordon arrived at 7:43 pm. <br />3. Review of County's Debt Management and Capital Funding Policies <br />John Link said that tonight is part one of a two-part presentation examining the capital and <br />operating aspects of the County budget in terms of sustainability. The PowerPoint presentation <br />is shown below. The discussion throughout is inserted after the presentation. Budget Director <br />Donna Dean made the presentation. <br />Lang-Range Capital Discussion <br />Orange County, NC <br />October 25, 2004 <br />Tonight's Topics <br />^ Debt Management <br />Overview of County's current debt management policy <br />Current debt capacity <br />Projected debt capacity for 10-year period <br />Potential future debt consideration <br />^ County Capital Funding Policy <br />Overview of County's current Capital Funding Policy <br />Recap of long-range capital funding from 1988 through 2003 <br />^ Additional Items for Board Consideration <br />2004 Two-Thirds Net Debt Funded Projects <br />Operational impacts of Currently Programmed Capital Projects <br />November 15 Work Session <br />Discussion of Fiscal Sustainability <br />County's Debt Management Policv <br />Attachment 6 of Agenda Packet <br />(Buff colored paper} <br />Purpose of County's Debt Management Policv <br />^ Demonstrates Board's commitment to long term financial planning <br />^ Provides guidance to ensure County maintains sound debt position and to protect quality of <br />credit <br />Current ratings <br />Standard & Paars - AA+ <br />Moodys - Aa1 <br />Fitch IBCA -AAA <br />^ Establishes debt parameters and provides flexibility to respond to unforeseen circumstances <br />and new opportunities <br />