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7 <br /> 1 FINANCIAL IMPACT: <br /> 2 There is no financial impact related to this action. However, there will be a financial impact in <br /> 3 proceeding with the financing. A preliminary estimate of maximum debt service applicable to <br /> 4 the capital investment projects and equipment financing would require the highest debt service <br /> 5 payment of $871,454 in FY 2016-17. The tax rate equivalent for the estimated highest debt <br /> 6 service payment is approximately 1/2 cent. Based on current resources and the retirement of <br /> 7 existing debt, no adjustment to the tax rate associated with this financing is anticipated to occur <br /> 8 during the period noted. <br /> 9 <br /> 10 A motion was made by Commissioner Price, seconded by Commissioner Rich to close <br /> 11 the public hearing. <br /> 12 <br /> 13 VOTE: UNANIMOUS <br /> 14 <br /> 15 A motion was made by Commissioner Jacobs, subject to further information about <br /> 16 saving sales tax on the school projects, seconded by Commissioner Pelissier to adopt the <br /> 17 resolution supporting the application to the Local Government Commission for approval of the <br /> 18 financing and refinancing arrangements. <br /> 19 <br /> 20 VOTE: UNANIMOUS <br /> 21 <br /> 22 6. Consent Agenda <br /> 23 • Removal of Any Items from Consent Agenda <br /> 24 None <br /> 25 <br /> 26 • Approval of Remaining Consent Agenda <br /> 27 <br /> 28 A motion was made by Commissioner Rich, seconded by Commissioner Burroughs to <br /> 29 approve the remaining items on the Consent Agenda. <br /> 30 <br /> 31 VOTE: UNANIMOUS <br /> 32 <br /> 33 • Discussion and Approval of the Items Removed from the Consent Agenda <br /> 34 <br /> 35 a. Minutes <br /> 36 The Board approved the minutes from February 16, 18 and 25, 2016 as submitted by the Clerk <br /> 37 to the Board. <br /> 38 b. Fiscal Year 2015-16 Budget Amendment#7 <br /> 39 The Board approved budget ordinance amendments for fiscal year 2015-16 for Department of <br /> 40 Social Services; Department of Library Services; Department on Aging; County Manager's <br /> 41 Office; and a technical amendment. <br /> 42 c. Fire Department Relief Fund Appointees <br /> 43 The Board approved the appointment of trustees to the local fire department relief funds boards <br /> 44 as recommended by the local fire department chiefs. <br /> 45 d. Comprehensive Plan and Unified Development Ordinance (UDO) Amendment Outline <br /> 46 and Schedule for the May 2016 Quarterly Public Hearing <br /> 47 The Board approved process components and schedule for an upcoming government-initiated <br /> 48 Comprehensive Plan and Unified Development Ordinance (UDO) amendments for the May 23, <br /> 49 2016 Quarterly Public Hearing regarding the 0/I (Office/Institutional) Zoning District. <br /> 50 e. Notice of Public Hearing on Orange County's 2016 Legislative Agenda <br />