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