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11 <br />Staff will provide any other information at the meeting, and the Boards can discuss <br />issues related to these items as necessary. <br />No Attachments <br />4. Potential 2016 County Bond Referendum Update <br />In several meetings during the past year, the Board of Commissioners has discussed the <br />possible scheduling of a bond referendum to address County and School capital needs. <br />A large part of the incentive for going forward with a potential General Obligation bond <br />referendum is the repair, renovation, and upgrading of existing older school facilities. <br />Both school systems have completed facilities assessments of their older schools, and <br />reflect needs totaling approximately $330 million. <br />At the Board's January 30, 2015 Retreat, the Board directed staff to develop materials <br />for Board consideration regarding the Board formally expressing its intent to schedule a <br />November 2016 Bond Referendum, including a total bond package amount of <br />approximately $125 million. The Board also directed staff to move forward with the <br />development of a process for a November 2016 Bond Referendum similar to the process <br />utilized during the County's 2001 Bond Referendum. <br />As was the case in 2001, the Board may consider retaining the services of an external <br />facilitator to assist the Capital Needs Advisory Task Force. The Task Force could <br />receive assistance from the Dispute Settlement Center, the UNC School of Government <br />or other resources that may be worthwhile again for the 2016 process. <br />At the March 3, 2015 Regular meeting, the Board discussed its intent to schedule a <br />November 2016 Bond Referendum to address County and School capital needs; <br />discussed the proposed creation of, structure, and charge for a proposed Capital Needs <br />Advisory Task Force; and discussed the potential needs for the services of a qualified <br />facilitator for the Task Force. The Board subsequently requested additional information <br />from staff and the two school systems for continued discussion at a future meeting. The <br />Board further discussed this item at its April 21, 2015 meeting, and an update on that <br />discussion will be provided at the joint meeting. <br />If the Board determines to form a Task Force, and based on an initial staff suggested <br />timeframe, the Board could likely appoint Task Force members at a June 2015 regular <br />Board meeting. This would permit the Task Force to hold its initial meetings through the <br />summer break and thereafter. Staff's initial proposal was that the Task Force be directed <br />to complete its work and provide its recommendations to the Board of Commissioners by <br />October 6, 2015, if not before. The Board would then consider establishing potential <br />bond categories and amounts and consider staff's initial estimate of the potential tax rate <br />impacts from the debt service of approximately $125 million for the total bond package. <br />Staff will provide any other information at the meeting, and the governing boards can <br />discuss issues related to this item as necessary. <br />No Attachments <br />