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<br />Resolution supporting an application to the Local Government Commission for <br />its approval of a financing agreement for Orange County <br />WHEREAS, <br />The Board of Commissioners of Orange County has previously determined to <br />undertake (a) the acquisition and construction of a new animal services building, and (b) <br />the acquisition of new landfill equipment. <br />The Board has previously determined to finance costs for these projects by the use <br />of an installment contract, as authorized under Section 160A-20 of the North Carolina <br />General Statutes. <br />Under the guidelines of the North Carolina Local Government Commission, this <br />governing body must make certain findings of fact to support the County's application <br />for the LGC's approval of the County's proposed financing arrangements. <br />THEREFORE, BE IT .RESOLVED by the Board of Commissioners of Orange <br />County, North Carolina, as follows: <br />(a) The County makes a preliminary determination to finance project costs, as <br />follows: <br />Component <br />Estimated Maximum Amount <br />Animal services building <br />Landfill equipment <br />Total <br />$8,000,000 <br />1,300,000 <br />$9,300,000 <br />The Board will determine the final amount to be financed by a later resolution. <br />The total amount financed may reflect adjustments to the amounts listed above and may <br />include amounts for financing costs. <br />(b) The Finance Officer is authorized and directed to take all appropriate steps <br />toward the completion of the financing, including (i) completing an application to the <br />LGC for its approval of the proposed financing, and (ii) soliciting one or more proposals <br />from financial institutions to provide the financing. <br />BE IT FURTHER .RESOLVED that the Board of Commissioners makes the <br />following findings of fact: <br />(a) The proposed projects are necessary and appropriate for the County under <br />all the circumstances. The new animal services building is necessary to replace a facility <br />that will no longer be available to the County. The landfill equipment will enhance <br />service levels and the efficiency of landfill operations. <br />9sa6z~1 <br />