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� S - t 9 91 <br /> ORANGE COUNTY BOARD OF COMMISSIONERS <br /> A RESOLUTION OF INTENT TO IMPLEMENT A LONG-TERM SCHOOL CAPITAL <br /> FINANCING PLAN AND TO SUPPORT THE STATEWIDE SCHOOL BOND <br /> WHEREAS, the Orange County and Chapel Hill-Carrboro City Schools Capital <br /> Improvement Plans reflect the need for substantial financial investment in the <br /> construction of new school space, and <br /> WHEREAS, implementation of an Orange County funding plan for these school capital <br /> needs depends heavily on passage of the November 1996 Statewide school bond that <br /> would provide approximately $17 million in school capital funding to the two school <br /> systems in Orange County, and <br /> WHEREAS, a joint effort of the County, school systems, parent-teacher organizations, <br /> and other interested parties would be helpful in educating citizens about the issues <br /> underlying the Statewide school bond referendum <br /> NOW, THEREFORE, BE IT RESOLVED THAT the Orange County Board of <br /> Commissioners does hereby express its intent to implement Option 5A as a long-term <br /> school capital financing plan, which encompasses the following elements: <br /> 0 private placement financing for a new elementary school in the Chapel Hill-Carrboro <br /> City Schools district <br /> • a $40 million bond referendum, with $35 million for School Capital Projects and the <br /> remainder for County, Park and Affordable Housing projects <br /> • reallocation of capital funds (as shown at Attachment 2) for on-going capital projects <br /> including shifting the one cent currently earmarked for capital reserves to County <br /> capital projects beginning in 1998-1999 <br /> • appointment of a Citizen's Advisory Committee to study School and County capital <br /> needs and report back to the Board of Commissioners <br /> BE IT FURTHER RESOLVED THAT the County Manager is hereby directed to consult. <br /> with the school superintendents and develop recommendations to the Board of <br /> Commissioners on establishment of an Orange County citizens steering committee on <br /> educating citizens about the November 1996 Statewide school bond. <br /> This, the 17th day of September, 1996. <br />