Agenda - 10-10-1988 - Laserfiche WebLink

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■ 073 Synopsis of Comments Goal 5 - Financial Participation Establish a basis for Orange Counte participation the financing of water and/or sewer services A. General Policies (Draft Policy) 5. All funds received from the operation of a County-owned system shall be paid into an Enterprise Fund. In all other cases, funds received through ital approved pay-back schedule shall be paid into a Cap Reserve Fund. All "pay-backs" shall include interest at the rate charged for assessments under N.C. General Statute 153A-185 or, in the event that the County borrows money for the extension, at the rate paid by the County on the debt. 6. Orange County' s financial participation for approved projects which are extensions to an existing County- owned sYsterevenues be to systeme a extensions to or projected operating costs plus the greater than the projected op 9 total debt service by the beginning of the third ear after the project i,s completed. Within limits p by the Board of Commissioners from time-to-time, the the amount of financial parttoiPextend shall systemctodmeet capital amount necessary projections shall be those approved the projections. All prof an by the Board of Comaisslgners and prepared by engineer employed by Economic Development Commission 1. " County Funding Responsibility" (Page 9. Item 1). What is meant by this? - 2. Use of Proceeds from Sands (Page 9). Reference e the State lams or regulations governing this. and explain the point • "general welfare" can include economic development. 3. Enterprise Fund (page 10). This could be specified more clearly. Row would it operate? Where would the funds CO . from? 4. Break-even Period (page 10). A break-even period of only 3 years is probably unrealistic: 5 years would be better. 5-A-2