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2 <br /> 1 WHEREAS, Frank Clifton helped to improve the county's economic development efforts, <br /> 2 including the successful passage of a quarter-cent sales tax partially devoted to <br /> 3 economic development, funding instrumental in providing infrastructure that resulted in <br /> 4 the location of the Morinaga Company in western Orange County; and <br /> 5 <br /> 6 WHEREAS, Frank Clifton worked devotedly to promote policies and practices he believed were <br /> 7 essential to the well-being of Orange County; and <br /> 8 <br /> 9 WHEREAS, public service requires a level of dedication, responsiveness, training, and hard <br /> 10 work that is to be admired and saluted. <br /> 11 <br /> 12 NOW, THEREFORE, BE IT RESOLVED that the Orange County Board of Commissioners, the <br /> 13 county staff, and the residents of Orange County do hereby express our appreciation <br /> 14 and respect for Frank Clifton for his service and leadership, and wish him well as he <br /> 15 retires and moves on to other endeavors. <br /> 16 <br /> 17 This the 26th day of September 2013 <br /> 18 <br /> 19 A motion was made by Commissioner Rich, seconded by Commissioner Price to add <br /> 20 this item to the agenda and to adopt the resolution. <br /> 21 <br /> 22 VOTE: UNANIMOUS <br /> 23 <br /> 24 1. Welcome and Opening Remarks —CHCCS Chair Brownstein, OCS Chair Coffey and <br /> 25 Chair Jacobs <br /> 26 <br /> 27 Chair Brownstein said collaboration has been good. She said she is happy to see <br /> 28 relationships being built in order to help all the students in Orange County. <br /> 29 Chair Coffey said the same, and she expressed appreciation for all that the Board of <br /> 30 County Commissioners does for both schools. <br /> 31 Chair Jacobs said that one of the fruitful consequences of the merger discussions is that <br /> 32 the three boards began meeting to talk about issues of common concern. He said the meeting <br /> 33 agenda has become a collaborative effort. <br /> 34 <br /> 35 2. Overview and Presentation by Davenport and Company, LLC on Orange County's <br /> 36 Financial Status and Debt Capacity <br /> 37 Chair Jacobs said the Board has seen this at the collaboration meetings and it is an <br /> 38 illuminating report. <br /> 39 Clarence Grier said this company helps with many of the County's financial and bond <br /> 40 issues. He reviewed the County's bond ratings and other background information from the <br /> 41 abstract. He said this report will provide an overview of the County's debt. <br /> 42 He introduced Ted Cole, Sr. Vice President and Robert High, First Vice President from <br /> 43 Davenport and Company, LLC. <br /> 44 Ted Cole said this report outlines where the County stands with regard to Debt Capacity <br /> 45 and Debt Affordability. He noted that the most current capital program and CIP for the schools <br /> 46 has been added as a reference and is located in the final pages of the booklet. <br /> 47 He reviewed the following highlights from the Discussion Materials Booklet included in <br /> 48 the abstract: <br /> 49 <br /> 50 Page 5 - Existing Tax Supported Debt—All County debt is fixed rate. He noted that debt <br /> 51 related to utilities, landfill and the Sportsplex are not included. He noted the current total <br />