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4 <br /> RES-2015-053 <br /> Resolution Stating an Intent To Proceed with a Referendum <br /> For Oranp-e County General Oblip-ation Bonds <br /> WHEREAS: <br /> The Orange County Board of Commissioners has reviewed the need for capital <br /> improvements for various public purposes. The Board of Commissioners has considered <br /> alternative means of financing the costs of the desired improvements, and has made a <br /> preliminary determination to finance at least some of the costs of these projects through <br /> the issuance of general obligation bonds. The issuance of these bonds is subject to the <br /> approval of the County's voters at a bond referendum. <br /> BE IT THEREFORE RESOLVED by the Board of Commissioners of Orange <br /> County, North Carolina, as follows: <br /> 1. The Board makes an initial determination to proceed with a referendum on <br /> November 8, 2016, for County general obligation bonds for the following purposes and <br /> in the following maximum amounts: <br /> Purpose Maximum Amount ($) <br />