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2 <br />and other terms of the financing around November 15, and to close on the financing by the end <br />of December. <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 County projects financing would require the highest debt service <br />payment of $1,482,631 falling in fiscal years 2015 -2019. The tax rate equivalent for the highest <br />debt service payment is approximately .923 cents. Based on current valuations, no adjustment <br />to the tax rate associated with this financing is contemplated to occur during the period noted. <br />RECOMMENDATION(S): The Interim Manager recommends that the Board conduct the public <br />hearing and adopt the resolution supporting the application to the Local Government <br />Commission for approval of the financing arrangements. <br />