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Solid Waste Projects: <br />Eubanks Road Solid Waste Convenience Center <br />Total Solid Waste Projects <br />EquipmentNehicle Purchases: <br />Vehicle Replacement Fund <br />In -Car Cameras Replacements - Sheriff <br />Board of Elections - Voting Equipment <br />Board of Elections - Electronic Poll Books <br />Total EquipmentNehicle Purchases <br />Grand Total FY 2014 -15 Financing <br />640,483 <br />640,483 <br />775,119 <br />517,798 <br />437,385 <br />242,485 <br />1,972,787 <br />$ 15,498,905 <br />M <br />Additionally, there are some previous year capital projects, although approved budgetary, for <br />which the financing was not issued due to the project schedule and decisions. The preliminary <br />schedule for the financing is attached to the abstract. County staff will be receiving bids from <br />financial institutions to secure the financing. Staff anticipates receiving $15.5 million in financing <br />for an average of 10 years at an interest rate of 2.30 percent, which will result in an average <br />annual debt service cost of $1,752,650. <br />FINANCIAL IMPACT: There is no financial impact related to this action. However, there will be <br />a financial impact in proceeding with the financing. A preliminary estimate of debt service <br />applicable to the financing would be $1,752,650. The tax rate equivalent for the annual debt <br />service payment is approximately 1.07 cents of the current property tax rate. <br />RECOMMENDATION(S): The Manager recommends the Board approve moving forward with <br />the financing of the stated capital project and equipment financing and provide feedback to staff. <br />