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8 <br /> authorizes the issuance of General Obligation, Bonds in an amount not to exceed $120 million <br /> to support school facilities; and the second bond order introduction authorizes issuance of <br /> General Obligation Bonds in an amount not to exceed $5 million for housing for persons with <br /> low and moderate income. <br /> 4) Hold open final action on the Bond Orders until after the May 5 public hearing. <br /> BACKGROUND: <br /> The Board of County Commissioners adopted a resolution on October 6, 2015 for the County <br /> to issue up to $120 million for Schools and up to $5 million for Affordable Housing. The Board <br /> made a determination to proceed with a referendum on November 8, 2016, 1 for authorization <br /> to issue County General Obligation Bonds in an amount not to exceed $125 million. <br /> The Board subsequently adopted a resolution at the March 22, 2016 regular meeting to <br /> schedule a public hearing on the bond orders at this April 19, 2016 regular meeting. The <br /> resolution also included conducting a second public hearing at the Board's May 5, 2016 <br /> regular meeting. The bond authorization schedule therefore calls for the first public hearing at <br /> tonight's meeting. <br /> In response to public comment, or otherwise, the Board can decide (a) not to put forward either <br /> or both of the proposed Orders, or (b) to lower the amount of either or both orders. The Board <br /> cannot, however, add a purpose for proposed bonds or increase either amount of bonds <br /> without re-starting the bond authorization process. <br /> Because of oddities related to the approval process with the Local Government Commission, <br /> bond counsel recommends that, after this first public hearing, the Board repeat a previous step <br /> of"introducing" the two Bond Orders. That step is included in the Manager's recommendation. <br /> The second public hearing is scheduled for May 5, 2016 at the County's Whitted Human <br /> Services Center, 300 West Tryon Street, Hillsborough, North Carolina, 27278. After that <br /> second public hearing, the Board will be asked to approve the Bond Orders, and then consider <br /> a resolution to formally call for the November bond referendum and approving the ballot <br /> questions. The referendum is scheduled for the regular election date, November 8. <br /> PUBLIC COMMENT: <br /> Allan Rosen said he wanted to thank the Board for the $5 million allocated towards <br /> affordable housing in the proposed bond referendum. He said he works at the InterFaith <br /> Council (IFC) Center, and this funding would be greatly appreciated and used. He said the <br /> affordable housing community wants to educate the public on the upcoming proposed bond <br /> referendum. <br /> Close the public hearing: <br /> A motion was made by Commissioner Dorosin, seconded by Commissioner Price to <br /> close the public hearing. <br /> VOTE: UNANIMOUS <br /> A motion was made by Commissioner Dorosin, seconded by Commissioner Rich to: <br /> 8 <br />