Agenda - 04-07-2015 - 5b - Laserfiche WebLink

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Sportsplex pool mezzanine $ 950,000 Improvements for Eubanks Road solid waste convenience center $ 1,100,000 Efland water and sewer improvements $ 4,600,000 Estimated total for new projects $ 16,270,000 Estimated total for refinancings $ 10,200,000 Estimated grand total $ 26,470,000 The two financings that are to be refinanced are a) a 2006 installment financing contract secured by Carrboro High School and b) a 2006 Certificates of Participation installment financing secured by Gravelly Hill Middle School. The County may use additional financing proceeds to pay financing costs or to provide required reserves. The hearing will be held in the Whitted Meeting Room at the Orange County Whitted Human Services Center Complex, 300 West Tryon Street, Hillsborough, NC 27278. The proposed financing would be secured by a lien on some or all of the property purchased or improved through the financing (or subject to the refinancing), as well as the County's promise to repay the financing, but there would be no recourse against the County or its property (other than the pledged property) if there were a default on the financing. The County expects that the collateral for the financing will consist primarily of Gravelly Hill Middle School. All interested persons will be heard. The County's plans are subject to change based on the comments received at the public hearing and the Board's subsequent discussion and consideration. The County's entering into the financing is subject to obtaining approval from the North Carolina Local Government Commission. Persons wishing to make written comments in advance of the hearing or wishing more information concerning the subject of the hearing may contact Paul Laughton, Orange County Interim Finance Officer, Post Office Box 8181, Hillsborough, NC 27278 (telephone 919/245 -2152, email plaughton@orangecountync.gov).