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03/12 08 <br />Attachment 2. Tentative Debt Issuance Proposal to Meet Unfunded County and Schools' Capital Needs <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 for staff to assume an annual increase in the County's <br />General Fund of 7 percent. The current Debt Management Policy allows for annual debt service payments to be no more than 15 percent of the total General Fund budget. <br />According to Board approved assumptions and current staff calculations, the proposed amounts will allow the County to remain within the Board's approved Debt <br />Management Policy. <br />Proposed Issue #5. Seek Voter Approval of General Obligation Bonds in November 2013 <br />24 (Cumulative Debt Capacity for fiscal years 2013-T4 through 2016-17 anticipated to be $162 Million} <br />25 <br />26 <br />27 <br />28 <br />29 <br />30 <br />31 <br />32 <br />33 <br />34 <br />Chapel Hill Carrboro City Schools Garrboro High School v <br />Classroom Addition (projected completion date fiscal year 2014 $13,400,a0a = <br />15) U ~ <br /> <br />Chapel Hill Carrboro City Schools Construction of Elementary <br />$31 <br />000 <br />000 o °~ <br />~ °~, <br />#12 {projected completion date fiscal year 2016-17) , <br />, ~, ~, <br /> -~ <br />Chapel Hill Carrboro City Schools Construction of McDougle o <br />Middle School Auditorium (projected completion date fiscal $5a,70a,aaa ~_ ~' <br />ear 2015-16) `~ <br />0 <br />Chapel Hill Garrboro City Schools Technology $5,800,000 ~ <br />Orange County Schools (Unspecified at this time; will require <br />further Board discussion; however, there may be a possible $40,000,x00 <br />need of new school related to growth in Mebane area by this <br />eriod of the CIP <br />County -Parks (Unspecified at this time; will require further $11 ,000,0x0 <br />Board discussions) <br />County -Land Banking (Unspecified at this time; will require $10,OOa,Oaa <br />further Board discussions) <br />Total Proposed November 2013 General Obligation Bonds $161,900,000 <br />Page 3 of 4 <br />