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ORANGE COL NTY 2 <br /> NORTH CAROLINA <br /> • lLlmq 2'e/`d' ( I(P C:kPta/fI Pd/76.? <br /> MEMORANDUM <br /> TO: John Link, County Manager <br /> FROM: Ken Chavious, Finance Director <br /> Sally Kost, Budget Director 1� <br /> Rod Visser, Assistant County Manage V <br /> DATE: December 14, 1992 <br /> SUBJECT: Bond Sale Issues <br /> We recently met to discuss certain issues relative to the <br /> upcoming bond sale scheduled for March 9, 1993 . Some of the <br /> major issues discussed were; amount of bonds to sell in March <br /> and in subsequent sales; interest rates; bond rating; the <br /> County' s financial condition; and bond issuance costs . The <br /> following information summarizes our discussions . <br /> 1 . Bond Sale Amounts - We reviewed the cash flow <br /> projections provided by each School System. Based on <br /> these projections, it appears that the bond sales <br /> required to meet cash flow needs are as follows: <br /> Mar 1993 Mar 1994 Mar 1995 <br /> OCS <br /> Technology $ 750 , 000 $1,150, 000 $ 100 , 000 <br /> • Middle Sch 4, 750 , 000 5, 250, 000 4, 000, 000 <br /> $5 , 500 , 000 $6 , 400, 000 $4,100 , 000 <br /> CHCCS <br /> Middle Sch $12 , 079, 200 $1, 920, 800 <br /> High Sch 4, 380 ,000 4, 905, 950 $12,714, 050 <br /> $16, 459, 200 $6, 826, 750 $12 ,714, 050 <br /> TOTAL YEARLY $21, 959, 200 $13 , 226 ,750 $16,814, 050 <br /> The initial information for our Official Statement is <br /> due to the LGC by January 11 , 1993 . The final <br /> decision on the amount of our March 1993 sale needs <br /> to be made prior to our January 27 meeting with the <br /> LGC and Bond Counsel . We have more flexibility with <br /> the amounts to be sold in subsequent years . <br /> AREA CODE (919) 732-8181 • 968-4501 • 688-7331 • 227-2031 • FAX (919) 644-3004 <br /> Ext. 2300 <br />