Orange County NC Website
000. 40 <br /> years; that it is very difficult to move into pay as you go with all the <br /> pressing needs. Pay as you go will work in the future if a very small bond <br /> issue is passed. <br /> Chair Willhoit noted that it would be necessary to use the one-half cent <br /> sales tax money to pay off the bond and still not enough money would be <br /> available to meet the needs of the two school systems. He questioned if it <br /> might be better to levy a property tax increase earmarked for capital that may <br /> very well raise the same amount of money as a bond. <br /> Further discussion and comments were made by both school board members and <br /> the Board on the subject of a five-cent tax increase for one year. <br /> Chair Willhoit asked that an analysis be done to determine what amount of <br /> tax increase it would take to generate the same amount that a bond issue would <br /> generate. This information will be shared with both school systems as soon as <br /> it is available. <br /> Don Willhoit noted a budget work session needs to be held on the <br /> markup/markdown list and suggested a meeting be scheduled for Monday, June 24, <br /> 1985 at 7:30 in the Courtroom at the old Post Office in Chapel Hill. <br /> ADJOURNMENT <br /> Chair Willhoit adjourned the meeting. The next meeting will be held <br /> on June 18, 1985 at 7:30 in the courtroom of the old Post Office in Chapel <br /> Hill, North Carolina. <br /> Don Willhoit, Chair <br /> Beverly A. Blythe, Clerk <br />