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� 1 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> Action Agenda <br /> item No v-A <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: May 17, 1994 <br /> SUBJECT: Bond Sale Resolution <br /> ----------------------------------------------------------------------- <br /> DEPARTMENT Finance PUBLIC HEARING YES NO X <br /> -------------------------------- ----------------------- <br /> ATTACHMENTS) INFORMATION CONTACT <br /> Summary Notice of Sale Ken Chavious, ext 2450 <br /> Bond Sale Resolution TELEPHONE NUMBER <br /> Hillsborough 732-8181 <br /> Chapel Hill 968-4501 <br /> Mebane 227-2031 <br /> Durham 688-7331 <br /> ----------------------------------------------------------------------- <br /> PURPOSE: To consider adopting a resolution providing for the issuance <br /> of $30 million school bonds. <br /> BACKGROUND: At the March 1, 1994 meeting, the Board of Commissioners <br /> received a staff report outlining options for the sale of the remaining <br /> school bonds authorized by voters in the November 1992 referendum. The <br /> Board authorized staff to pursue arrangements with the North Carolina <br /> Local Government Commission to sell the remaining $30 million school <br /> bonds on June 14, 1994. <br /> A resolution fixing the details of the bond sale must be approved by <br /> the County Commissioners before the sale can take place. The <br /> resolution has been prepared by Gundars Aperans of Brown & Wood, the <br /> County' s bond counsel. <br /> RECOMMENDATION: The Manager recommends that the Board approve <br /> the resolution as prepared by bond counsel. <br />