Agenda - 01-05-1987 - Laserfiche WebLink

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ORANGE 'COUNTY . • BOARD. OF COMISSIONERS . ACTION AGENDA ACTION AGENDA ITEM ABSTRACT ITE{i no. FIO MEETING DATE January 5, 1987 • 159 SUBJECT: Financing Options For Long-Range Capital Needs - - DEPARTMENT: Finance • ' PUBLIC HEARING: . YES No • . . 1• • ATTACHMENT(S) : , INFORMATION CONTACT: Finance Director 1. Memo from Finance Director Ext 496 2: Memo from N.C. Association of PHONE NUMBERS: HILLSBOROUGH 731- 8181 County Commissioners HILLSBOROUGH 732-0;361 3'. Memo from Craig Phillips,State CHAPEL HILL - 967-9251 Superintendent fIEI3ANE 227-2031 4. Mema-_from. William W.Peek,Associate DURFIPJ{ GP8--73.31 atato buperintendent . PURPOSE: To consider various options •available to County for funding long-range" capital needs. . - - •The. local Boards of Education in the State have been directed by the Department of Public Instruction to prepare a survey of public school facility needs. This- survey is to cover the capital needs of the local _ _ school systems for the fiscal years 1987-88 through 1992-93 and beyond, if possible. - NEED: • . . As part of this process, the Board of County Commissioners will be asked - to review the estimates .of capital• needs submitted by the Boards of Education. • Also, the Commissioners. w.ill be .asked to submit their proposal- for funding, these needs. - The State Superintendent of Public Instruction has requested that the Board of Education and the County Commissioners complete their work on this survey by January 31, 1987. In addition to the. school capital needs, the Commissioners _ - - will be in the process of determining'how to finance other long-range capital - needs that will be included in the County's Five Year Capital Improvement - Plan scheduled to be submitted to the Board in the spring of 1987. . _ As a result of these two events, there is a need for the Board to begin • discussing and evaluating the various alternatives for funding the long- range capital needs of the schools and the County. After today's information on the methods of financing together with advantages - : and disadvantages there would be a second discussion on January 20, to try to arrive at a consensus on the preferred approach or combination- of approaches. ' Between the 5th and 20th the County will be reqeiving more specific information . from the schools and CHR Space Study. This will be passed to the Board Members in preparation for the meeting on-the 20th.to the extent it is available. A special meeting with the two school boards is planned for - January 27 in order to finalize a decision as to what is to be reported to the. state. Please retain the information in this packet for the meetings on the 20th and 27th.