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2 <br />3 DRAFT <br />4 <br />5 <br />6 <br />7 <br />8 <br />9 <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />Attachment 2 <br />MINUTES <br />JOINT MEETING <br />ORANGE COUNTY BOARD OF COMMISSIONERS <br />CHAPEL HILL TOWN COUNCIL <br />March 26, 2015 <br />The Orange County Board of Commissioners met with the Town of Chapel Hill for a joint <br />meeting on Thursday, March 26, 2015 following the AOG meeting (7:00 p.m.) at the Southern <br />Human Services Center in Chapel Hill, N.C. <br />COUNTY COMMISSIONERS PRESENT: Chair McKee and Commissioners Mia Burroughs, <br />Mark Dorosin, Barry Jacobs, Bernadette Pelissier, Renee Price and Penny Rich <br />COUNTY COMMISSIONERS ABSENT: <br />COUNTY ATTORNEYS PRESENT: John Roberts <br />COUNTY STAFF PRESENT: County Manager Bonnie Hammersley, Assistant County <br />Manager Cheryl Young and Clerk to the Board Donna Baker (All other staff members will be <br />identified appropriately below) <br />CHAPEL HILL TOWN COUNCIL MEMBERS /STAFF PRESENT: Mayor Mark Kleinschmidt, Ed <br />21 Harrison, Jim Ward, Lee Storrow, Matt Czajkowski, George Cianciolo, Maria Palmer, Donna <br />22 Bell, and Sally Greene and Town Manager Roger Stancil <br />23 CHAPEL HILLTOWN COUNCIL MEMBERS ABSENT <br />24 <br />25 Chair McKee called the meeting to order at 8:46pm. <br />26 <br />27 Welcome and Opening Remarks <br />28 Mayor Mark Kleinschmidt and BOCC Chair Earl McKee (no opening remarks). <br />29 <br />30 1. Bond Referendum Updates <br />31 a) Town of Chapel Hill November 2015 Bond Referendum <br />32 Mayor Kleinschmidt said this has not been officially approved yet, but there has been <br />33 preliminary approval of the bond order. <br />34 Roger Stancil reviewed the following information, as included in the abstract: <br />35 The Town of Chapel Hill is planning a General Obligation Bond Referendum for November of <br />36 2015. The planned referendum will be about $40.3 million and will include streets & sidewalks, <br />37 trails and greenways, recreation facilities, a solid waste transfer station and stormwater <br />38 improvements. The Town finances its long -term capital improvement through its Debt <br />39 Management Fund. The Debt Fund uses a dedicated portion of the property tax that, along with <br />40 other revenues such as transfers from enterprise funds, is used to fund debt service payments. <br />41 Based on our projections, the proposed referendum bonds can be paid using the existing <br />42 capacity in the Debt Management Fund. In other words, it is expected that the Town will not <br />43 need to increase taxes in order to pay the debt service on the planned referendum debt. <br />44 <br />45 Bond Orders <br />46 The planned bond orders (categories of projects that will be presented on the ballot) <br />47 include projects that have been prioritized through the Town's internal review process. Among <br />48 other things, this process took into consideration the following: <br />49 • Priority in various Master Plans, including the Parks & Greenways, Stormwater, <br />50 Streetscape, Bike and Sidewalks Master Plans. <br />