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1 <br /> I APPROVED 10/20/2015 <br /> 2 MINUTES <br /> 3 ORANGE COUNTY BOARD OF COMMISSIONERS <br /> 4 WORK SESSION <br /> 5 September 10, 2015 <br /> 6 7:00 p.m. <br /> 7 <br /> 8 The Orange County Board of Commissioners met for a work session on Thursday, <br /> 9 September 10, 2015 at 7:00 p.m. at the Southern Human Services Center in Chapel Hill, N.C. <br /> 10 <br /> 11 COUNTY COMMISSIONERS PRESENT: Chair McKee and Commissioners Mia Burroughs, <br /> 12 Mark Dorosin, Barry Jacobs, Bernadette Pelissier, Renee Price and Penny Rich <br /> 13 COUNTY COMMISSIONERS ABSENT: <br /> 14 COUNTY ATTORNEYS PRESENT: John Roberts <br /> 15 COUNTY STAFF PRESENT: County Manager Bonnie Hammersley, Assistant County Manager <br /> 16 Travis Myren and Clerk to the Board Donna Baker (All other staff members will be identified <br /> 17 appropriately below) <br /> 18 <br /> 19 Chair McKee called the meeting to order at 7:04 p.m. <br /> 20 Chair McKee asked for a moment of silence in remembrance of 9/11. <br /> 21 <br /> 22 1. Additional Discussion Regarding a November 2016 Bond Referendum <br /> 23 Chair McKee noted the following items at the Commissioners' places: <br /> 24 -White pages for Item 1-A: Revised dates on attached proposed bond schedule memorandum, <br /> 25 Attachment A <br /> 26 -White pages for Item 1-B: Discussion materials from Davenport and Company <br /> 27 Chair McKee said the first time the Board discussed a bond was in 2013. He said this <br /> 28 would be a continuing discussion tonight. <br /> 29 Bonnie Hammersley said staff invited Davenport and Company, the County's financial <br /> 30 advisors, to review the debt capacity, as it related to the bond. <br /> 31 Paul Laughton, Orange County Finance Administrative Services, referred to Item 1- <br /> 32 Attachment A in their packet, which is the schedule for a 2016 bond. He noted the corrected <br /> 33 dates, highlighted in yellow on page 4. <br /> 34 Paul Laughton said Bob Jessup, Bond Counsel, is also here tonight. The memo bond <br /> 35 detail has been updated to reflect the November 2016 bond. <br /> 36 <br /> 37 To: Orange County Officials <br /> 38 <br /> 39 Date: September 2, 2015 <br /> 40 <br /> 41 Regarding Required Procedures and Possible Schedule for <br /> 42 General Obligation Bond Referendum <br /> 43 <br /> 44 From: Sanford Holshouser LLP <br /> 45 -- Robert M. Jessup Jr. <br /> 46 <br /> 47 This memorandum describes the steps required for Orange County to conduct a general <br /> 48 obligation bond referendum on November 8, 2016, and sets out a proposed schedule. Here are <br /> 49 the required steps and suggested dates for action: <br />