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2 <br />year 2007-08) followed by principal and interest payments beginning in fiscal year 2008-09. For <br />fiscal year 2007-08, debt service for this financing totals $1,278,122 (just over 1 cent on the <br />projected tax rate) and the 2008-09 debt service totals $4,518,250 for principal and interest <br />(about 3.5 cents on the projected tax rate). The County Manager will include funding to repay <br />the debt in the upcoming 2007-2008 fiscal year budget. <br />RECOiVIMENDATION(S): The Manager recommends that the Board conduct the public <br />hearing and adopt the resolution providing final approval of the proposed financing. <br />