Agenda - 03-22-2016 - 5-a - Public Hearing on the Financing of Various Capital Investment Plan Projects

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4 Board of Elections equipment—purchase and install 169,575 Recycling Roll-Cart Distribution and Maintenance Building 165,000 —purchase and construct Upper Eno Nature Preserve— construct parking lot and trail 125,000 work Purchase new generator for Hillsborough Commons 100,000 Financing and related costs 155,241 Estimated total project costs $ 8,150,000 As part of this financing plan, the Orange Board of Education will transfer title to the County of Grady Brown Elementary School (and the associated land and buildings). The Board will also hear any public comment on the advisability of this property transfer. The hearing will be held in the County's Southern Human Services Center, 2501 Homestead Road, Chapel Hill, North Carolina 27516. The proposed financing would be secured by a lien on some or all of the property purchased or improved through the financing as well as the County's promise to repay the financing, but there would be no recourse against the County or its property (other than the pledged property) if there were a default on the financing. The County expects that the collateral for the financing will consist primarily of the Grady Brown Elementary School property. All interested persons will be heard. The County's plans are subject to change based on the comments received at the public hearing and the Board's subsequent discussion and consideration. The County's entering into the financing is subject to obtaining approval from the North Carolina Local Government Commission. Persons wishing to make written comments in advance of the hearing or wishing more information concerning the subject of the hearing may contact Gary Donaldson, Orange County Finance Officer, Finance Officer, Post Office Box 8181, Hillsborough, NC 27278 (telephone 919/245-2453, email gdonaldson @orangecountync.gov).