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ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />ACTION AGENDA ITEM ABSTRACT <br />Meeting Date: September 26, 2013 <br />Action Agenda <br />Item No. 5 <br />SUBJECT: Possible Bond Issuance for November 2014 <br />DEPARTMENT: Finance and Administrative PUBLIC HEARING: (Y /N) No <br />Services <br />ATTACHMENT(S): INFORMATION CONTACT: <br />A. Proposed Bond Schedule for a <br />November 2014 Bond Clarence Grier, 919 - 245 -2450 <br />Referendum Bob Jessup, 919 - 933 -9891 <br />PURPOSE: To receive a report on a possible November 2014 bond referendum schedule. <br />BACKGROUND: In recent meetings over the past few months, the Board of County <br />Commissioners has discussed the need for a future bond referendum to fund some County and <br />School long -range capital needs. This item was also discussed at the September 3, 2013 <br />County /School Collaboration Meeting. There were two possible dates for voters to consider a <br />bond referendum — May 2014 and November 2014. Bob Jessup, Orange County Bond <br />Counsel, and Orange County staff provided the Board with a brief timeline comparison related <br />to both dates. During the County /School Collaboration Meeting, the May 2014 date was <br />removed due to time considerations. <br />Currently, the proposed County Jail and Middle School #5 for the Chapel Hill — Carrboro City <br />School District are two projects that have been discussed as projects that would be included as <br />part of the bond referendum. The Boards will have to decide any additional projects to be <br />included in the bond referendum. The decision to include any additional projects in previous <br />bond referendums has been led by a Commissioner appointed Capital Needs Advisory Task <br />Force, and the use of an educational campaign to educate the public about the needs and <br />purpose of the bond referendum. <br />FINANCIAL IMPACT: There is no direct financial impact associated with the attached report <br />and calendar. <br />RECOMMENDATION(S): The Manager recommends that the Boards receive the report and <br />calendar. The Board of County Commissioner may choose to discuss the possible bond <br />referendum at a future meeting. <br />