Orange County NC Website
15 <br /> 1 Bret Martin said this item is for an annual grant application for both administrative <br /> 2 expenses and capital items needed for 2015. He said the capital needs include: 5 replacement <br /> 3 buses, and 2 expansion vehicles. He said the total amount of the administrative expenses is <br /> 4 $185,604, and 15 percent must come from the Orange County 2015 budget. He said the total <br /> 5 request for capital expenses is $483,292, of which 10 percent must come from Orange County. <br /> 6 He said the total amount required from the Orange County general operating fund is $61,638, <br /> 7 as well as $14,533 from the capital reserve set-aside managed by Triangle Transit. <br /> 8 <br /> 9 A motion was made by Commissioner Dorosin, seconded by Commissioner Rich to <br /> 10 open the public hearing to: <br /> 11 Conduct a public hearing to receive public comments on the proposed grant application <br /> 12 <br /> 13 VOTE: UNANIMOUS <br /> 14 <br /> 15 A motion was made by Commissioner Rich, seconded by Commissioner Pelissier to <br /> 16 close the public hearing. <br /> 17 <br /> 18 VOTE: UNANIMOUS <br /> 19 <br /> 20 A motion was made by Commissioner Gordon, seconded by Commissioner McKee to: <br /> 21 • Approve the Community Transportation Program Grant application for FY 2015 in the <br /> 22 total amount of$668,896 with a local match total of$76,171 to be provided when <br /> 23 necessary; <br /> 24 • Approve and Authorize the Chair to sign the Community Transportation Program <br /> 25 Resolution and the Local Share Certification for Funding form; and <br /> 26 • Approve and Authorize the Chair and the County Attorney to review and sign the annual <br /> 27 certified statements of participation. <br /> 28 <br /> 29 VOTE: UNANIMOUS <br /> 30 <br /> 31 f. Public Hearing on the Financing of Various Capital Investment Plan Projects <br /> 32 and County Equipment <br /> 33 The Board conducted a public hearing on the issuance of approximately $10,500,000 to <br /> 34 finance County and School capital investment projects and County equipment for the year, and <br /> 35 considered approving a related resolution supporting the County's application to the Local <br /> 36 Government Commission (LGC) for its approval of the financing arrangements. <br /> 37 <br /> 38 Clarence Grier reviewed the following information from the abstract: <br /> 39 <br /> 40 The Board of Commissioners has previously approved the construction and purchase of capital <br /> 41 investment projects and equipment for the year. The Board has made a preliminary <br /> 42 determination to finance costs for these projects by the use of an installment financing, as <br /> 43 authorized under Section 160A-20 of the North Carolina General Statutes. County staff <br /> 44 estimates that the total amount to be financed for County and School capital projects and <br /> 45 County equipment will be approximately $10,500,000. The financing will also include amounts <br /> 46 to pay transaction costs. The statutes require that the County conduct a public hearing on the <br /> 47 proposed financing contract. A copy of the published notice of this hearing is provided at <br /> 48 Attachment 1. After conducting the hearing and receiving public input, the Board will consider <br /> 49 the adoption of the resolution at Attachment 2. This resolution formally requests the required <br /> 50 approval from the <br />