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ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />ACTION AGENDA ITEM ABSTRACT <br />Meeting Date: March 3, 2015 <br />SUBJECT: Reimbursement Resolution for FY 2014 -15 Capital Pro <br />DEPARTMENT: Finance and Administrative <br />Services <br />ATTACHMENT(S): <br />Attachment 1. Reimbursement <br />Resolution <br />Attachment 2. Internal Services Fund <br />Vehicle Listing for FY <br />2014 -15 <br />Action Agenda <br />Item No. 6 -m <br />and Eauipment <br />PUBLIC HEARING: (Y /N) No <br />INFORMATION CONTACT: <br />Paul Laughton, (919) 245 -2152 <br />PURPOSE: To approve a Resolution providing for reimbursement of FY 2014 -15 Capital Project <br />costs. <br />BACKGROUND: At its November 6, 2014 meeting, the Board of County Commissioners <br />(BOCC) received preliminary information for the financing of various projects and equipment as <br />approved as part of the Capital Investment Plan (CIP) projects for FY 2014 -15. Additionally, <br />there were some previous year capital projects, although approved as budgetary, for which the <br />financing was not issued due to the project schedules. The attached Reimbursement <br />Resolution (Attachment 1), including the Project Components listed on Exhibit A, allows the <br />County to advance funds, if needed, for these initial project costs and equipment, and then <br />reimburse itself from financing proceeds once final financing has been secured and approved by <br />the Board of County Commissioners later this Spring. <br />Also attached (See Attachment 2) is a final list of County vehicles to be purchased through the <br />Internal Services Fund as part of the equipment portion of the financing. The initial list provided <br />to the BOCC in June 2014 totaled $775,119. The updated list totals $756,388. This decrease <br />of $18,731 is attributed to a change in the type of ambulance for Emergency Services. <br />Attachment 2 explains this change in more detail. <br />FINANCIAL IMPACT: As stated in the Background section, this Reimbursement Resolution <br />allows the County to advance funds for these initial project costs and equipment, and then <br />reimburse itself from financing proceeds once final financing has been secured and approved by <br />the Board of County Commissioners later this Spring. <br />RECOMMENDATION(S): The Manager recommends the Board approve the Reimbursement <br />Resolution. <br />