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f . <br /> • � 1 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: August 25, 1997 <br /> Action Agenda <br /> Item No. E-z <br /> SUBJECT: Adoption of Bond Orders for November 1997 Referendum <br /> DEPARTMENT: Finance PUBLIC HEARING: (Y/N) <br /> BUDGET AMENDMENT: (Y/l) <br /> ATTACHMENT(S): INFORMATION CONTACT: <br /> Bond Orders Ken Chavious Ext. 2453 <br /> Resolution <br /> TELEPHONE NUMBERS: <br /> Hillsborough 732-8181 <br /> Chapel Hill 968-4501 <br /> Durham 688-7331 <br /> Mebane 227-2031 <br /> PURPOSE: To consider adoption of five Bond Orders and to formally set the ballot questions and <br /> referendum date, as required by the Local Government Bond Act, and in accordance with the timetable <br /> established for the proposed November 4, 1997 bond referendum. <br /> BACKGROUND: On August 4, 1997,the Board introduced Bond Orders required for the proposed <br /> November 4, 1997 bond referendum. At that time, the date for the required public hearing on the Bond <br /> Orders was also established. The public hearing took place on August 20, 1997. All of the actions <br /> required by the Local Government Bond Act have occurred in accordance with the Board's established <br /> timetable. <br /> The requirements of the Bond Act state that after the hearing,the Board must adopt the Bond Orders and <br /> formally set the ballot questions and the date for the referendum. Adoption of the Bond Orders <br /> establishes the final amounts of the proposed bonds that will go before the voters. The ballot questions <br /> and the date of the referendum will be formally set by adoption of the attached resolution, as prepared by <br /> the County's Bond Counsel, containing the language necessary for compliance with the statutes. Once <br /> adopted, the Clerk to the Board must send a copy of the resolution to the County Board of Elections <br /> within three days. As soon as possible after adoption, the Clerk must also publish the Bond Orders. <br /> If the Board is ready to do so, it can adopt the resolution and bond orders at this August 25 meeting. If <br /> further discussion and deliberation are necessary, the Board can make those decisions as late as the <br /> September 2 regular meeting and remain on schedule. <br /> RECOMMENDATION(S): The Manager recommends that at either the August 25 or September 2 <br /> meeting, the Board: 1) adopt the Bond Orders, thereby establishing the final amounts for the <br /> referendum; and 2) adopt the resolution formally setting the bond questions and the referendum date. <br />