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7 <br /> Jeff Poley, Carolina Friends School, said the school would like to borrow up to <br /> $6,500,000 from the Public Finance Authority in Wisconsin, and these are tax-exempt <br /> bonds. <br /> Commissioner Dorosin asked if this process is administrative/procedural only, in <br /> order to secure the bonds. <br /> Jeff Poley said yes. <br /> Commissioner Dorosin asked if this bond is separate from Orange County's <br /> bond that will be on the ballot in November. <br /> Jeff Poley said it is completely separate, and there are no legal or financial <br /> obligations on the County. <br /> A motion was made by Commissioner Price, seconded by Commissioner Rich to <br /> close the public hearing. <br /> VOTE: UNANIMOUS <br /> A motion was made by Commissioner Burroughs, seconded by Commissioner <br /> Jacobs for the Board of Commissioners to adopt the attached resolution, which finds: <br /> a. That the $6,500,000 in Education Revenue Bonds do not constitute a debt of <br /> the County; nor require a tax levy nor a pledge of the faith and credit of the <br /> County; nor will affect the County's debt ratios or legal debt limit; and, <br /> b. That the County has made no financial analysis of the Bonds or of the <br /> Borrower of the Project; and <br /> c. The County approves, solely for the purpose of assisting The Carolina Friends <br /> School to meet the requirements of the Internal Revenue Code of 1986, as <br /> amended, and Wisconsin law, the issuance of not to exceed $6,500,000 in <br /> Education Revenue Bonds to be issued by the Public Finance Authority for the <br /> benefit of The Carolina Friends School. <br /> VOTE: UNANIMOUS <br /> b. Public Hearing on the 2017 Reappraisal Proposed Schedules of Rules, <br /> Standards and Values <br /> The Board conducted a public hearing scheduled for this meeting on the 2017 <br /> Reappraisal Proposed Schedules of Rules, Standards and Values. <br /> Dwane Brinson, Orange County Tax Administrator, presented this item, which is <br /> the second step in the adoption process of the 2017 Reappraisal Proposed Schedules <br /> of Rules, Standards and Values. He referred to the blue sheet and outreach <br /> information, which included social media, etc. on this issue. <br />