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DRAFT <br /> Resolution Stating Intent To Proceed with a Referendum <br /> For Orange County General Obligation Bonds <br /> WHEREAS: <br /> In February, 2001, the Board of Commissioners of Orange County, North Carolina, <br /> appointed a capital needs advisory task force to review potential capital projects for <br /> County funding and to provide to the Board a recommendation for the elements and size <br /> of a proposed County bond referendum for November, 2001. <br /> The task force has provided a recommendation to the Board, and the Board has <br /> carried out its own deliberations and evaluations of candidates for bond financing. As a <br /> result of these deliberations and evaluations, the Board has made the determination to <br /> proceed toward a bond referendum as described in this resolution. <br /> BE IT THEREFORE RESOLVED by the Board of Commissioners of Orange <br /> County, North Carolina, as follows: <br /> 1. The Board makes an initial determination to proceed with a referendum for <br /> County general obligation bonds in the maximum amounts and for the purposes set forth <br /> below: <br /> Purpose Amount ($) <br /> Public school facilities xx,xxx,xx <br /> Parks and open space xx,xxx,xx <br /> Affordable housing x,xxx,xx <br /> Senior centers x,xxx,xx <br /> 2. The Board hereby makes the following findings of fact in support of its <br /> determination -- <br /> a) The proposed capital projects are necessary and expedient for the <br /> County. The Board makes reference to the task force report for an explanation of <br /> projects considered by the Board in the process of determining the amounts and <br /> purposes for proposed bonds, although the Board notes that the projects eventually <br />