Orange County NC Website
Browse       Search
1 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: August 4, 1997 <br /> Action Agenda <br /> Item No. <br /> SUBJECT: Introduction of Bond Orders and Public Hearing Resolution <br /> DEPARTMENT: Finance PUBLIC HEARING: (Y/1S) <br /> BUDGET AMENDMENT: (Y/1) <br /> ATTACHMENT(S): INFORMATION CONTACT: <br /> Bond Orders Ken Chavious, ext 2453 <br /> Resolution <br /> Sworn Statement of Debt <br /> TELEPHONE NUMBERS: <br /> Hillsborough 732-8181 <br /> Chapel Hill 9684501 <br /> Durham 688-7331 <br /> Mebane 227-2031 <br /> PURPOSE: To introduce the Bond Orders and consider adoption of a Resolution setting forth <br /> the public hearing date and the filing of the Sworn Statement of Debt as required by the Local <br /> Government Bond Act, for the November 4, 1997 Bond Referendum. <br /> BACKGROUND: At their June 30, 1997 meeting,the Board of Commissioners authorized the <br /> publication of a"Notice of Intent"to file an application with the Local Government Commission <br /> (LGC) seeking approval to hold a Bond Referendum on November 4, 1997. In addition,the Board <br /> approved a calendar of the various steps to be taken in connection with the referendum. <br /> The "Notice of Intent''was published on July 9, 1997, and the application has been filed with <br /> the LGC. The next step in the referendum process is the Introduction of the Bond Orders. This <br /> step is usually accomplished by the Board Chair reading aloud the title of each Bond Order. <br /> Subsequent to the Bond Order introductions, a resolution should be adopted setting forth the <br /> public hearing date,which is required prior to the formal adoption of the orders. In addition,this <br /> resolution should instruct the Finance Director to file a Sworn Statement of Debt with the Clerk <br /> to the Board. In accordance with the established time table, the public hearing should be held on <br /> August 20, 1997. The Clerk to Board must publish the Bond Orders and the public hearing notice <br /> by August 13, 1997, in order to meet the requirements set forth in the approved time table. Prior <br /> to the publishing of the public hearing notice,the Finance Director will file the required Sworn <br /> Statement of Debt. <br />