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BOARD OF ORANGE COUNTY COMMISSIONERS (BOCC) 83 <br />BOARD RETREAT <br />JANUARY 30, 2015 <br />For Discussion Purposes Only <br />HOW SHOULD ORANGE COUNTY FUND SCHOOL AND COUNTY CAPITAL PROJECTS? <br />BOND REFERENDUM <br />FUND WITHIN EXISTING TAX RATE <br />What are the challenges facing this option? <br />What are the challenges facing this option? <br />• Bond referenda are allowed only in <br />■ Affordability and Capacity impact <br />even election years for counties <br />■ Fiscally sustainable <br />(i.e.2016, 2018, etc.) <br />■ Impact on current operations <br />• General Assembly potential actions <br />■ Advantages and Disadvantages <br />• Affordability and Capacity impact <br />• Voter fatigue in wake of possible <br />Chapel Hill bond package <br />• Interest rate fluctuations <br />• Impact on current operations <br />• Advantages and Disadvantages <br />When should the bond referendum <br />happen? <br />■ May 2016 or November 2016 <br />o Staff will present schedule <br />impacts <br />What process will be followed? <br />What process will be followed? <br />■ Overview of the last referendum <br />Included in the traditional Capital <br />process as well as voting results will <br />Investment Plan (CIP) process <br />be presented by staff <br />o Determine process <br />• Determine process <br />parameters for funding <br />parameters for funding <br />eligibility <br />eligibility <br />o Community Input during the <br />• Cost in ad dollars and time to <br />Budget Public Hearings <br />promote previously <br />Will there be a Bond Referendum Advisory <br />Committee? If yes: <br />• Composition <br />• Appointment process for Advisory <br />Committee members <br />• Process for interest groups to <br />request funds <br />• Community Input <br />• Public outreach responsibility <br />Board of Orange County Commissioners <br />Board of Orange County Commissioners <br />(BOCC) capital projects? <br />(BOCC) capital projects? <br />■ List priorities <br />List priorities (same or different with <br />bond) <br />