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03/12 08 <br />March 12, 2008 <br />Legend <br />Debt not currently programmed into County's future debt issuance plans. Note: In September 2006, the Board agreed, with regard to future debt calculations, for staff to <br />assume an annual increase in the County's General Fund of 7 percent. The current Debt Management Policy allows for annual debt service payments to be no more than 15 <br />percent of the total General Fund budget. According to Board approved assumptions and current staff calculations, the proposed amounts will allow the County to remain <br />within the Board's approved Debt Management Policy. <br />Attachment 2. Tentative Debt Issuance Proposal to Meet Unfunded County and Schools' Capital Needs <br />Proposed Issue #3. Seek Voter Approval of General Obligation Bonds in November 2008 (Cumulative Debt Capacity for fiscal years <br />10 2009 10 through 2012-13 anticipated to be $154 Million) <br />11 <br />it <br />1~ <br />14 <br />1: <br />1~ <br />1E <br />1t <br />Chapel Hill Carrboro City Schools Carrboro High School $13,400,000 ~ <br />Auditorium (projected completion date fiscal year 2011-12) _ <br />Chapel Hill Carrboro City Schools Construction of Elementary <br />$31 ,000,000 o 0 <br />#11 (projected completion date fiscal year 2011-12} ~ ~ <br /> m ~- ° <br />Chapel Hill Carrboro City Schools Construction of Middle <br />700 <br />000 <br />$50 °~ °o <br />School #5 (projected completion date fiscal year 2011-12} , <br />, ~ ~ <br /> <br />Chapel Hill Carrboro City Schools Technology $5,000,000 <br /> <br />Orange County Schools (Unspecified at this time; will require $10 <br />000 <br />000 <br />further Board discussions , <br />, <br />County -Parks (Unspecified at this time; will require further $8,000,000 <br />Board discussions <br />County -Land Banking (Unspecified at this time; will require $10,000,000 <br />further Board discussions <br />Total Proposed November 2008 General obligation Bonds $129,100,000 <br /> <br />m <br /> <br /> <br />m <br /> <br /> <br /> <br />c <br /> <br /> <br /> <br />.~ <br />0 <br />~ m <br />~ r <br /> <br />~r <br /> <br />0 0 <br />Q N <br />'~ ~ <br /> <br />~ c~ cs <br />o <br />~~ <br />~ o <br />r <br />~ o <br />~ <br />c+> ~ -` <br />~* ~ ~r <br />~ <br /> <br />CU N ~ <br /> <br />~ i _ <br />~ <br />N ~ <br />~ ~' <br /> <br />~ ~ <br />o U <br />Q ~ <br />o <br /> <br />0 <br /> <br /> <br /> <br />m <br />. <br />~ <br /> <br />i= <br /> <br />U <br />18 <br />19 Proposed Issue #4. Spring 2012 Alternative Financing <br />2C <br />21 <br />2t <br />2~ <br />Purchase Hillsborou h Commons $14,800,000 <br />Capital Cost to Up Fit Hillsborough Commons to Accommodate $5,300,000 <br />Health and Other Human Services Departments <br />Construction of 15,000 Square Foot Addition to Southern <br />Human Services Center to Accommodate Relocation of Dental $5,200,000 <br />Health Clinic from Carr Mill Mall <br />Total Pro osed S rin 2012 Alternative Financin $25,300,000 <br />Page 2 of 4 <br />