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7 <br /> 1 certain findings that support the LGC's own conclusion. He said this is relatively <br /> 2 straightforward, and essentially the Board will be saying, "we're doing this because it will save <br /> 3 us a lot of money". He said this evening, the Board will be asked to adopt the resolution in the <br /> 4 form presented, and a final approval will be sought in mid-October. <br /> 5 <br /> 6 A motion was made by Commissioner Rich, seconded by Commissioner Jacobs to open <br /> 7 the public hearing. <br /> 8 <br /> 9 VOTE: UNANIMOUS <br /> 10 <br /> 11 PUBLIC COMMENT <br /> 12 None <br /> 13 <br /> 14 A motion was made by Commissioner Price, seconded by Commissioner Jacobs to <br /> 15 close the public hearing. <br /> 16 <br /> 17 VOTE: UNANIMOUS <br /> 18 <br /> 19 Commissioner McKee said this is another in a series of refinancing efforts, which has <br /> 20 resulted in many millions in savings. <br /> 21 Commissioner Rich asked if there is a reason this item will come back in October. <br /> 22 Bob Jessup said under the LGC guidelines, there needs to be a preliminary resolution in <br /> 23 support of the application, followed by the approval of the more final terms and necessary <br /> 24 documents to carry out the financing, in October. He said the approval in October must come <br /> 25 after the LGC's approval. <br /> 26 Commissioner Jacobs asked Gary Donaldson if the County could have considered <br /> 27 budgeting for next year, or is this just found money. <br /> 28 Gary Donaldson said these types of funds are not typically projected in an ongoing <br /> 29 budget. <br /> 30 Commissioner Jacobs said theoretically, this amount of money could go to deferring the <br /> 31 amount of indebtedness that will exist upon the issuance of bonds this coming fiscal year, which <br /> 32 therefore might reduce the possibility of a tax increase. <br /> 33 Gary Donaldson said it will not be a material reduction, and will not be sufficient to offset <br /> 34 the debt. <br /> 35 <br /> 36 A motion was made by Commissioner Price, seconded by Commissioner Rich for the <br /> 37 Board to adopt the resolution (attachment 2) supporting the application to the Local <br /> 38 Government Commission for approval of the refinancing. <br /> 39 <br /> 40 VOTE: UNANIMOUS <br /> 41 <br /> 42 6. Regular Agenda <br /> 43 a. Review of Affordable Housing Bond Scoring Criteria <br /> 44 The Board considered the following changes to the affordable housing bond scoring <br /> 45 criteria: <br /> 46 1. Due to the inherent differences between new construction and the acquisition and <br /> 47 preservation of existing housing, score and recommend new construction projects <br /> 48 separately so that they do not compete with the acquisition of existing housing stock. <br /> 49 2. Define special needs populations as seniors, people with disabilities, veterans, <br /> 50 individuals or families experiencing homelessness, and victims of domestic violence. <br />