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1 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: November 1, 2016 <br /> Action Agenda <br /> Item No. 7-b <br /> SUBJECT: Reimbursement Resolution for Capital Projects and Equipment Costs <br /> DEPARTMENT: Finance and Administrative <br /> Services <br /> ATTACHMENT(S): INFORMATION CONTACT: <br /> Attachment 1. Reimbursement Gary Donaldson, (919) 245-2453 <br /> Resolution Paul Laughton, (919) 245-2152 <br /> Attachment 2. Internal Services Fund <br /> Vehicle Listing for FY <br /> 2016-17 <br /> PURPOSE: To approve a Resolution providing for reimbursement of Capital Project and <br /> Equipment costs. <br /> BACKGROUND: At the June 16, 2016 meeting, the Board of County Commissioners (BOCC) <br /> approved the financing of various projects and equipment as part of the Capital Investment Plan <br /> (CIP) projects for FY 2016-17. Additionally, there were some previous year capital projects, <br /> although approved as budgetary, for which the financing was not issued due to the project <br /> schedules. The attached Reimbursement Resolution (Attachment 1), including the Project <br /> Components listed on Exhibit A, allows the County to advance funds, if needed, for these initial <br /> project costs and equipment, and then reimburse itself from financing proceeds once final <br /> financing has been secured and approved by the Board of County Commissioners. Final <br /> approval is scheduled for Spring 2017. <br /> The costs of these Project Components is $15,911,700 in the County Capital Fund, $789,722 in <br /> the Vehicle Replacement Fund, $1,000,000 in the School Capital Fund, $662,717 in the Solid <br /> Waste Enterprise Fund, and $2,800,000 in the Sportsplex Enterprise Fund, for a total of <br /> $21,164,139 <br /> Attachment 2 is the approved list of County vehicles to be purchased through the Internal <br /> Services Fund as part of the equipment portion of the financing. This list was provided to the <br /> BOCC in June 2016. <br /> FINANCIAL IMPACT: As stated in the Background section, this Reimbursement Resolution <br /> allows the County to advance funds for these initial project costs and equipment, and then <br /> reimburse itself from financing proceeds once final financing has been secured and approved by <br /> the Board of Commissioners in Spring 2017. <br />