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0 <br />approved general obligation bond referendum are May 2016 and November 2016. If not <br />held at one of these dates, a potential general obligation bond referendum would be <br />required to be held in May 2018 or November 2018 or in subsequent even numbered <br />years. <br />At the September 11, 2014 Board of County Commissioners Work Session, the <br />recommended sizing of the potential general obligation bond referendum was discussed <br />at a range between $100 and $125 million over a period of 20 years. At current AAA <br />municipal bond interest rates, the total combined debt service for $100 million is <br />estimated to be $6.1.million annually. This would represent 4.00 cents on the current <br />property tax rate. At current AAA municipal bond interest rates, the total combined debt <br />service for $125 million is estimated to be $7.6 million annually. This would represent <br />4.67 cents on the current property tax rate. <br />Staff will provide any other information at the meeting, and the governing boards can <br />discuss issues related to this item as necessary. <br />No Attachments <br />5. Update on Orange County Bus and Rail Investment Plan ( OCBRIP) Status <br />The OCBRIP was approved by the BOCC in June 2012 and provides local and regional <br />transit opportunities including expanded bus service and light rail. Collection of the sales <br />tax, which is the primary local funding source, began in April 2013. The BOCC received <br />an update from Triangle Transit at its February 4, 2014 meeting, which included its <br />annual report, a preview of Plan updates, and additional revenue from the one -half cent <br />sales tax. Materials from this meeting can be found at: <br />http: / /www.co. orange .nc.us /occierks /140204.pdf. <br />A summary of the OCBRIP status is attached. <br />Staff will provide any other information at the meeting, and the governing boards can <br />discuss issues related to this item as necessary. <br />Attachment 5 — Summary of Orange County Bus and Rail Investment Plan ( OCBRIP) <br />Status <br />6. Ag Support Enterprises in the Rural Buffer <br />Orange County and the Towns of Chapel Hill and Carrboro heard proposed amendments <br />to the Joint Planning Land Use Plan and Agreement at the March 27, 2014 joint public <br />hearing. The purpose of the amendments is to potentially allow appropriate agricultural <br />support uses in the Rural Buffer land use classification. Implementing amendments to <br />the County's Unified Development Ordinance have been proposed and are adopted only <br />by the County, with the Towns having the opportunity to comment. The Town of <br />Carrboro has been reviewing both sets of amendments and has discussed the topic at <br />Board of Aldermen meetings on June 3, September 9, and October 7 (materials for these <br />meetings are available on the Town's website at <br />