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2 <br />FINANCIAL IMPACT: There is no financial impact related to this action. However, there will be <br />a financial impact in proceeding with the financing. A preliminary estimate of maximum debt <br />service applicable to the School and County projects financing would require annual debt <br />service payments in the range of $650,596 to $822,592. The tax rate equivalent for the highest <br />debt service payment is approximately .4392 cents. <br />RECOMMENDATION(S): The Interim Manager recommends the Board receive the preliminary <br />information and approve the resolution moving forward with the financing of the stated capital <br />projects and equipment financing. <br />