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Minutes 09-10-2015
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Minutes 09-10-2015
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10/21/2015 4:23:42 PM
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BOCC
Date
9/10/2015
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Work Session
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Minutes
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Agenda - 09-10-2015 - Agenda
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\Board of County Commissioners\BOCC Agendas\2010's\2015\Agenda - 09-10-2015 - Work Session
Agenda - 09-10-2015 - 1
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Agenda - 09-10-2015 - 4
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4 <br /> 1 <br /> 2 13. Publish Bond Order as Adopted. This should be done as soon as possible <br /> 3 after the Bond Order is adopted. There is no particular deadline for publishing this notice, but <br /> 4 the notice starts a 30-day period for court challenges to the authorization process that must <br /> 5 lapse before any bonds can be issued. <br /> 6 <br /> 7 14. Publish Notice of Bond Referendum. This notice must be published twice, <br /> 8 once not less than 14 days and once not less than 7 days before the close of voter registration. <br /> 9 State law permits registration until the 25th day prior to the election date. That puts the date <br /> 10 registration closes at October 14 for a referendum on November 8. The first publication, then, <br /> 11 needs to be at least 14 days earlier, or on or before September 30, and the second publication <br /> 12 no more than one week later (by October 7). 1 would certainly encourage you, however, to plan <br /> 13 to publish at least a week before the final legal date, in order to leave time to re-publish in case <br /> 14 of any problems with publication. <br /> 15 <br /> 16 <br /> 17 1 have attached a schedule in table form for a referendum in November 2016. This table <br /> 18 summarizes the steps that have been described in more detail above. <br /> 19 <br /> 20 Issuing bonds after the referendum. Once the voters have approved the bonds, you <br /> 21 have a minimum of 90 to 120 days to get through the process to actually issue bonds. The <br /> 22 County Board must adopt a resolution to formally approve the election results, and the County <br /> 23 must publish a notice of the results that triggers a 30-day period during which people can bring <br /> 24 legal challenges to the bond referendum process. Then, to approve the issuance of bonds takes <br /> 25 only one more County Board resolution, with no other required public hearings or published <br /> 26 notices. <br /> 27 <br /> 28 The real timing issue in proceeding with a bond issue centers around the progress of the <br /> 29 projects that are going to be financed. In general, the LGC wants to see that you are close to <br /> 30 construction with well-developed estimates and at least some bids in hand before closing on a <br /> 31 bond issue—the LGC wants to be sure you don't borrow too much money, or too little money, or <br /> 32 borrow it earlier than you need it. We can coordinate the construction and the bond processes <br /> 33 so as not to delay the County's projects. <br /> 34 <br /> 35 The County has seven years from a successful referendum date to issue voter-approved <br /> 36 bonds. The LGC can extend this period to ten years, and over the last several years the LGC <br /> 37 has routinely granted extensions. There is never any obligation for the County in fact to issue <br /> 38 any or all of the bonds approved at a referendum. <br /> 39 <br /> 40 <br /> 41 Related purposes and ballot questions. Each separate general purpose for bonds has <br /> 42 to be the subject of its own Bond Order and its own separate ballot question. Purposes for <br /> 43 which bonds are to be issued have to be related to be included in a single question, and <br /> 44 unrelated purposes cannot be combined. For example, a bond purpose of"public safety" could <br /> 45 cover improvements to police and fire facilities. On the other hand, "fire facilities" and "park <br /> 46 improvements" could not be combined on a single ballot question. <br /> 47 <br /> 48 Determining which purposes will be put before the voters, and how much in bonds will <br /> 49 be proposed for each purpose, is the essential nature of developing the bond plan as described <br /> 50 in Step 1. We would recommend that the questions put to voters propose a dollar amount of <br /> 51 bonds for broad categories, as appropriate—for example, a dollar amount for "streets and <br />
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