Agenda - 09-10-2015 - 1 - Laserfiche WebLink

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2 The Board further discussed this item at its April 21, 2015 meeting, and approved the scheduling of a November 2016 Bond Referendum to address School Capital needs. The Board also approved its intent for a bond package totaling approximately $125 million, and supported the concept of a Bond Education Committee. This Committee's composition, appointment process, and public outreach responsibilities will be discussed and decided on at a future meeting. Future debt capacity for a potential general obligation bond referendum can increase or decrease due to the following circumstances: • Future increases or decreases in interest rates • Future changes or modifications to the capital investment plans of the County and/or both School Districts At tonight's meeting, representatives from Davenport and Company, the County's Financial Advisors, will provide the following information, as it relates to the County's Debt Capacity and Debt Affordability: (See Attachment B, Debt Profile, Debt Capacity and Affordability Information) • Peer Comparatives and Key Debt Ratios • Review of the County's existing Debt Profile. • Evaluate the impact of the County's current FY 2015-20 Capital Investment Plan (CIP) debt issuances. • Evaluate the impact of a $125 million General Obligation Bond Referendum, as well as the impact of$130 million and $135 million case scenarios. FINANCIAL IMPACT: There is no immediate financial impact related to the discussion of a November 2016 Bond Referendum. SOCIAL JUSTICE IMPACT: The following Orange County Social Justice Goal is applicable to this agenda item: • GOAL: ENABLE FULL CIVIC PARTICIPATION Ensure that Orange County residents are able to engage government through voting and volunteering by eliminating disparities in participation and barriers to participation. RECOMMENDATION(S): The Manager recommends that the Board continue its discussion of a November 2016 Bond Referendum, and provide direction to staff, as appropriate.