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18 p <br /> correct the poorly functioning sewage package plant located <br /> i <br /> at its Efland-Cheeks Elementary School. This time <br /> limitation, imposed by consent order with the North Carolina <br /> Department of Environmental Management, can be met by the <br /> prompt construction of the Project. <br /> 3 . The following sources of funds are proposed <br /> for the construction of the project: <br /> FMHA grant $598, 300. 00 <br /> FMHA loan 200 , 000. 00 <br /> N.C. Clean Water grant 170 , 000 . 00 <br /> Orange County "loan" 136,000. 00 <br /> Orange County grant 50 , 000. 00 <br /> $1, 154 , 300. 00 <br /> The $200, 000. 00 FMHA loan is proposed to be repaid by <br /> the sale of general obligation , net-debt reduction <br /> bonds . This amount is the maximum and minimum FMHA loan <br /> available for the Project under FMHA guidelines . <br /> 4. Orange County has made all debt service <br /> payments on a timely basis as evidenced by its audit <br /> reports for the years ending June 30, 1980-86 . <br /> 5. According to Orange County' s audit report <br /> for the fiscal year ending June 30, 1986 , its budgetary <br /> .r <br /> and fiscal management policies have been carried out in <br /> compliance with law. <br /> 6.. No increase in the Orange County property <br /> tax will be necessary to meet the increase in debt <br /> service occasioned by the repayment of the bonds <br /> proposed for the funding of the Project. <br /> i <br /> 4 <br />