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PAGE 2 <br /> There was a consensus of the Board to go with a thirty million dollar <br /> bond issue. <br /> Discussion ensued on how the bond issue funds would be allocated to the <br /> two school districts. John Link suggested allocating on the same percentage <br /> as the requests that were received. With a twenty-five million dollar bond <br /> issue, 59.4 % or eleven million would go to Chapel Hill/Carrboro School <br /> District and 41.6% or seven million to Orange County Schools. With a thirty <br /> million dollar bond issue it would mean 12.5 million for Chapel Hill/Carrboro <br /> and 8.5 million for Orange County Schools. Their was a consensus of the <br /> Board that this was a reasonable split. <br /> Superintendent of Orange County Schools Dan Lunsford expressed concern <br /> for meeting the remainder of the needs that would not be paid by the bond <br /> monies stating it was crucial to recognize the need for the second elementary <br /> school. <br /> Ted Parrish, Chair of the Chapel Hill-Carrboro School Board questioned if <br /> the schools should not get more money and the county projects less money. In <br /> response, Chair Marshall emphasized that the telephone survey indicated that <br /> the schools are not the only priority and there is a lot that needs to be <br /> balanced. <br /> It was decided that a thirty million dollar bond issue would be presented <br /> for public comment at a public hearing to be held on July 5 at 7:30 in <br /> Superior Courtroom, Hillsborough, North Carolina. A special meeting will be <br /> held on July 7, 1988 at 7:30 p.m. in the courtroom of the old Post Office, <br /> Chapel Hill, North Carolina for the purpose of (1) adopting a resolution <br /> authorizing submission of application for issuance of Bonds to Local <br /> Government Commission, (2) hiring bond counsel, (3) making final decisions on <br /> amount and projects to be included in a bond issue and (4) continuing any <br /> items left from the July 5 meeting. <br /> Discussion on the bond counsel resulted in a consensus to stay with the <br /> same bond counsel in New York. <br /> With no further discussion, Chair Marshall adjourned the meeting. <br /> Shirley E. Marshall, Chair <br /> Beverly A. Blythe, Clerk <br /> MINUTES <br /> ORANGE COUNTY BOARD OF COMMISSIONERS <br /> WORK SESSION ON THE PROPOSED BOND ISSUE <br /> JUNE 29, 1988 <br /> The Orange County Board of Commissioners met in Special Session on June <br /> 29, 1988 at 4:00 p.m. in the Commissioners' Conference Room, Court Street <br /> Annex, Hillsborough, North Carolina for the purpose of holding a work session <br /> on the proposed bond issue. <br />