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5 <br /> RES-2017-023 Attachment 2 <br /> Resolution supporting an application to the Local Government <br /> Commission for its approval of a County financing agreement <br /> WHEREAS-- <br /> The Board of Commissioners has previously determined to carry out the <br /> acquisition and construction of various public improvements, as identified in the <br /> County's capital improvement plan. <br /> The Board of Commissioners desires to finance the costs of these projects by <br /> the use of an installment financing, as authorized under Section 160A-20 of the <br /> North Carolina General Statutes. <br /> Under the guidelines of the North Carolina Local Government Commission, <br /> this governing body must make certain findings of fact to support the County's <br /> application for the LGC's approval of the County's financing arrangements. <br /> THEREFORE, BE IT RESOLVED by the Board of Commissioners of Orange <br /> County, North Carolina, that the County makes a preliminary determination to <br /> finance approximately $13,600,000 to pay capital costs of various public <br /> improvements, and in particular the improvements shown on Exhibit A. <br /> The Board will determine the final amount to be financed by a later <br /> resolution. The final amount financed may be slightly lower or slightly higher than <br /> $13,600,000. Some of the financing proceeds may represent reimbursement to the <br /> County for prior expenditures on project costs, and some proceeds may be used to <br /> pay financing expenses or to provide any required reserves. <br /> BE IT FURTHER RESOLVED that the Board of Commissioners makes the <br /> following findings of fact: <br /> (1) The proposed projects are necessary and appropriate for the County <br /> under all the circumstances. <br />