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1 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: February 7, 2017 <br /> Action Agenda <br /> Item No. 6-f <br /> SUBJECT: Resolution Certifying and Approving the Results of the November 8, 2016 Bond <br /> Referenda <br /> DEPARTMENT: Finance and Administrative <br /> Services <br /> ATTACHMENT(S): INFORMATION CONTACT: <br /> Attachment 1. Resolution Gary Donaldson, 919-245-2453 <br /> Attachment 2. Notice for Publication Bob Jessup, 919-933-9891 <br /> PURPOSE: To certify and approve the General Obligation Bond election results from the <br /> November 8, 2016 Bond referenda. <br /> BACKGROUND: On November 8, 2016 Orange County voters approved $120 million in <br /> General Obligation bonds to fund capital improvements for the Chapel-Hill Carrboro City <br /> Schools and Orange County Schools and $5 million to fund capital improvements for providing <br /> housing for persons of low and moderate income. <br /> The election results are included in the attached resolution. The North Carolina statutes require <br /> that the BOCC certify and approve the election results as a necessary step prior to the issuance <br /> of General Obligation bonds. After the BOCC adopts the resolution (Attachment 1), the statutes <br /> require the County to publish a notice of the results. Bond Counsel has provided the form of the <br /> notice for publication (Attachment 2), and the Clerk and Finance & Administrative Services <br /> Director will ensure publication following Board action. <br /> FINANCIAL IMPACT: There is no financial impact associated with this item. <br /> SOCIAL JUSTICE IMPACT: There is no Orange County Social Justice Goal associated with <br /> this agenda item. <br /> RECOMMENDATION(S): The Manager recommends the Board approve the Resolution. <br />