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1 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: December 10, 2013 <br /> Action Agenda <br /> Item No. 6-g <br /> SUBJECT: Adoption of the Final Financing Resolution Authorizing the Issuance of <br /> $10,500,000 of Installment Financing to Finance Various County and School <br /> Capital Investment Plan Projects and County Equipment <br /> DEPARTMENT: Finance and Administrative PUBLIC HEARING: (Y/N) N� <br /> Services <br /> ATTACHMENT(S): INFORMATION CONTACTS: <br /> 1. Listing of Projects to be Financed Clarence Grier, 919-245-2453 <br /> 2. Bid Summary and Debt Service Robert Jessup, 919-933-9891 <br /> Schedule <br /> 3. Resolution Approving Financing <br /> Terms and Documents for 2014 <br /> Installment Financing <br /> PURPOSE: To adopt the final financing resolution authorizing the issue of $10,500,000 of <br /> installment financing to finance various County and School Capital Investment Plan Projects and <br /> County equipment. <br /> BACKGROUND: During its November 5, 2013 meeting, the Board of County Commissioners <br /> approved the financing of various County and School Capital projects and County equipment <br /> (Attachment 1). <br /> Staff requested and received bids for the proposed installment financing from the following <br /> financial institutions- <br /> 1. SunTrust Institutional and Government Inc. <br /> 2. Bank of America Public Capital Corp <br /> 3. PNC Bank <br /> 4. First Tennessee Bank <br /> Bank of America was selected as the financially responsive and financially responsible bidder. <br /> The financing agreement will be subdivided into two installment financing agreements: one for <br /> the financing of the capital investment projects and one for the financing of the equipment. <br /> The financing terms of the two installment financing agreements will be follows: <br />