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ORANGE COUNTY 1 <br /> BOARD OF COMMISSIONERS <br /> Action Agenda <br /> Item No. V1 A <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: May 3 , 1993 <br /> SUBJECT: REFINANCING OF 1988 BONDS AND ADOPTION OF BOND ORDERS <br /> DEPARTMENT: FINANCE PUBLIC HEARING YES: X NO: <br /> ATTACHMENT(S) : INFORMATION CONTACT: Ken Chavious <br /> Ext. 2450 <br /> To be submitted under separate cover TELEPHONE NUMBER- <br /> Hillsborough - 732-8181 <br /> Chapel Hill - 968-4501 <br /> Mebane - 227-2031 <br /> Durham - 688-7331 <br /> PURPOSE: To conduct a Public Hearing to receive citizen comment on the <br /> proposed refinancing of the bonds approved in the 1988 referendum <br /> and adoption of related Bond Orders and Bond Sale Resolutions. <br /> BACKGROUND: On April 20, 1993 the Bond Orders for the proposed refinancing <br /> of the County's 1988 Bonds were introduced. Pursuant to the <br /> Local Government Bond Act, and in accordance with the approved <br /> refinancing time-table, a Public Hearing is required in order <br /> to provide the opportunity for anyone who wishes to be heard <br /> on the questions of the validity of the Bond Orders and the <br /> advisability of refinancing the bonds. <br /> Upon completion of the Public Hearing, adoption of the Bond <br /> Orders and the Bond Sale Resolution is necessary in order to <br /> conduct the sale, as scheduled, on May 18, 1993 . The <br /> suggested format for these proceedings, as prepared by Bond <br /> Counsel, is being submitted under separate cover. <br /> RECOMMENDATION(S) : The Manager recommends that the Board conduct the <br /> public hearing; adopt the Bond Order; and approve the <br /> Bond Sale Resolution; and authorize the Clerk to meet <br /> all publishing requirements as suggested by Bond <br /> Counsel. <br />