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1 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> Action Agenda <br /> Item No A. <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: November 16, 1993 <br /> SUBJECT: Swimming Pool Financing <br /> DEPARTMENT County Manager PUBLIC HEARING YES NO X <br /> ATTACHMENT(S) INFORMATION CONTACT <br /> Resolution Rod Visser, ext 2300 <br /> Facilities/Services Agreement TELEPHONE NUMBER <br /> Operating Memorandum Hillsborough 732-8181 <br /> Indenture of Trust Chapel Hill 968-4501 <br /> Deed of Trust Mebane 227-2031 <br /> Durham 688-7331 <br /> PURPOSE: To consider a resolution approving a Facilities/Services <br /> Agreement, and related documents, between Orange County and the Orange <br /> County Community Activity Corporation. <br /> BACKGROUND: At the October 4, 1993 meeting, the Board of Commissioners <br /> approved the County' s participation in a "63-20" financing arrangement <br /> whereby the Orange County Community Activity Corporation (previously <br /> known as the Triangle Youth Hockey Association) will issue bonds for <br /> the construction of a swimming pool/ice rink facility to be located <br /> at the Meadowlands. The facility will be owned and operated by the <br /> Corporation. Under terms of the draft agreement approved by the Board, <br /> the County will make an annual appropriation of $400,000 for ten years <br /> to the Corporation. When all debt on the facility has been paid off by <br /> the Corporation, <br /> n <br /> , within <br /> 15 <br /> Y ears, title to the facility t Y <br /> will pass to <br /> Orange County. <br /> If adopted by the Board of Commissioners, the attached resolution will <br /> authorize the County Manager and/or his designees to carry out all <br /> actions necessary to implement the facilities/services agreement and <br /> related documents. The attached agreement, which will take effect on <br /> December 1, 1993, is in substantially the form that was reviewed and <br /> approved by the Board on October 4. Minor corrections and <br /> clarifications have been made as a result of review by staff and <br /> attorneys for all parties. <br /> RECOMMENDATION: The Manager recommends that the Board approve the <br /> resolution. <br />