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DRAFT <br /> 5 <br /> funded with bond proceeds will depend on final project costs and the County's <br /> evolving needs. <br /> b) The amount of bonds proposed is adequate and not excessive for the <br /> proposed purpose. The proposed bond amounts have been derived from the <br /> Board's consideration of the task force report and other sources. <br /> c) The County's debt management and budgetary and fiscal management <br /> policies have been carried out consistently in accordance with the law. <br /> d) The Board expects a maximum potential tax impact to the County of <br /> 7.3 cents per $100 of assessed valuation. The Board recognizes that its past <br /> estimates of maximum tax increases necessary to support bond payments have <br /> turned out to be accurate. <br /> 3. The Finance Officer is authorized and directed to proceed with the proper <br /> steps toward the authorization of the referendum, including proceeding with an <br /> application to the North Carolina Local Government Commission (the "LGC") for its <br /> approval of such bonds. <br /> 4. The Finance Officer is authorized and directed to publish a notice of the <br /> Board's intent to apply to the LGC for approval of the bonds. This notice must be in the <br /> form prescribed by statute and consistent with this resolution. <br /> 5. The Finance Officer is authorized and directed to employ bond counsel to <br /> represent the County in the authorization and issuance of such bonds. <br /> 6. All County officers and employees are authorized and directed to take all <br /> such further action as they may consider necessary or desirable in connection with the <br /> furtherance of the purposes of this resolution. All such prior actions of County officers <br /> and employees are ratified, approved and confirmed. All other resolutions, or parts <br /> thereof, in conflict with this resolution are repealed, to the extent of the conflict. This <br /> resolution takes effect immediately. <br />