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r <br /> ORANGE COUNTY 1 <br /> BOARD OF COMMISSIONERS <br /> Action Agenda <br /> • Item No.�1ZI-," <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: August 8, 1994 <br /> SUBJECT: Resolution for Farmland Preservation Bond Application <br /> ------------------------------ ---------------------------------- <br /> DEPARTMENT: Finance PUBLIC HEARING YES: NO:X <br /> ------------------------------- ---------------------------------- <br /> ATTACHMENT(S) : INFORMATION CONTACT: Ken Chavious <br /> Resolution TELEPHONE NUMBER- EXT. 2453 <br /> Hillsborough - 732-8181 <br /> Chapel Hill - 968-4501 <br /> Mebane - 227-2031 <br /> Durham - 688-7331 <br /> ---------------------------------------------------------------------- <br /> PURPOSE: To consider the adoption of a Resolution in support of the <br /> County's application seeking approval from the Local Government Commission <br /> (LGC) to hold a referendum for Farmland Preservation Bonds. <br /> i <br /> BACKGROUND: On June 28, 1994 the Board of Commissioners adopted a "Notice <br /> of Intent" to file an application with the LGC for authorization to hold a <br /> referendum on the issuance of Farmland Preservation Bonds. In addition <br /> to the "Notice of Intent" , the LGC requires that the County Commissioners <br /> adopt a resolution making necessary findings related to the proposed <br /> bonds. The resolution, which serves as a supplement to the application, <br /> also authorizes the actual filing of the application and designates a <br /> County representative to be the contact person throughout the referendum <br /> and sale procedures. <br /> The bond application is currently being prepared by staff and will be <br /> submitted to the LGC later this week. LGC approval of the application is <br /> contingent upon inclusion of the resolution in the application packet. <br /> RECOMMENDATION(S) : The Manager recommends that the Board adopt the <br /> attached Resolution. <br /> i <br />