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DRAFT tq <br />PREPARED 2/14/08 <br />ORANGE COUNTY BOARD OF COMMISSIONERS <br />Statement of Intent Regarding Uses of New Revenue Source Proceeds <br />Based on discussion at the February 12, 2008 work session, the following represents a <br />starting point for establishing the formal position of the Orange County Board of <br />Commissioners regarding the prospective uses of the proceeds from an alternative revenue <br />source, if approved by Orange County voters: <br />The Orange County Board of Commissioners believe: <br />• there are significant pressing school, park, and other County capital needs that are <br />currently unfunded or underfunded in the County's 10 Year Capital Investment Plan <br />• it is important to provide Orange County taxpayers with some relief from the pressure <br />to raise property taxes to address those, and other, County needs <br />• revenue from one of the alternative sources made available to counties by the General <br />Assembly during the 2007 Session provides an opportunity to gain some measure of <br />that relief <br />• if the County Commissioners do not have voter approval to levy an alternative revenue <br />source, that inevitably will lead to property tax increases to meet capital needs that <br />MUST be funded <br />• while the Board of Commissioners cannot say that property taxes will never be raised, <br />the availability of an alternative revenue source does mean that property tax rates <br />would be lower than they otherwise would be without the new revenue source <br />• capital funding from an alternative revenue source must be allocated in an equitable <br />manner between projects in the County's two school systems and other County capital <br />projects <br />• funding from an alternative revenue source should be allocated to already identified <br />projects the County MUST accomplish, not to new projects that haven't been <br />previously contemplated <br />• funding from an alternative revenue source could be allocated to renovation projects <br />as well as to new facilities <br />• if additional funding does not come from an alternative revenue source, it will <br />inevitably come from the property tax for projects that MUST be done, and non- <br />mandated projects will either be deferred or not completed <br />2. Therefore, the Orange County Board of Commissioners hereby states its intention to <br />use the proceeds from the new alternative revenue source for the following currently <br />unfunded or underfunded school and park projects: <br />a. <br />b. <br />C. <br />d. <br />Proceeds from this new revenue source in later years will be used to address County <br />Commissioner priorities as established in the County's 10 Year Capital Investment Plan. <br />DRAFT