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12 <br /> School is beyond disrepair and should be the top priority. He said CHCCS would rather build <br /> both as planned, but the district must live within its means. <br /> Commissioner McKee agreed with the prioritization of Chapel Hill High School. <br /> Commissioner Jacobs said when CHCCS was deciding which projects to bring forward, <br /> did CHCCS consider costing some the elementary schools via a second bond. <br /> Todd LoFrese said that is not a good option either, since CHCCS needs the elementary <br /> schools improved in order to increase capacity. He said those costs will have gone up as well, <br /> and these projects are at least two years away. He added that construction costs are likely to <br /> rise even further. <br /> Chair Dorosin said there is a long arc between the presentation of these projects and <br /> them going out to bid. He asked if, given this long amount of time, inevitable increases are built <br /> into the budgets. <br /> Bonnie Hammersley said estimates were increased by 5% in anticipation of rising <br /> construction costs. <br /> RES-2017-066 <br /> Resolution to Adjust the Bond Sale Amounts <br /> WHEREAS On October 3, the Board of Commissioners approved the sale of general obligation <br /> bonds for various purposes. Based on the results of construction bids for school projects and <br /> upon the direction of the Local Government Commission, the County must reduce the amount <br /> of voter-approved school bonds to be sold, from $40 million to $21 million. This resolution <br /> approves that change. <br /> BE IT THEREFORE RESOLVED by the Board of Commissioners of Orange County, North <br /> Carolina, that the bonds to be sold pursuant to the October 3 resolution will be (a) $21,000,000 <br /> of voter-approved school bonds, (b) $2,500,000 of voter-approved affordable housing bonds, <br /> and (c) $5,900,000 of"two-thirds" school bonds. The Finance Officer may approve a further <br /> change in the amount of any bonds to be sold, upon the advice of the LGC and up to the <br /> amounts previously specified in the October 3 resolution. All other provisions of the October 3 <br /> resolution are confirmed. <br /> A motion was made by Commissioner Burroughs, seconded by Commissioner Price for <br /> the Board to approve the revised Resolution to Adjust the Bond Sale Amounts. <br /> VOTE: UNANIMOUS <br /> c. Orange County Southern Branch Library Development Agreement <br /> The Board received an update regarding the Draft Development Agreement with the <br /> Town of Carrboro with regard to the potential development of the Orange County Southern <br /> Branch Library; and will consider authorizing the Manager to execute the Development <br /> Agreement upon final review of the County Attorney. <br /> Bonnie Hammersley said there was concern about the parking, and she was able to get <br /> onsite parking into the agreement. She said the parking deck may be offsite, but there will be <br /> onsite parking at the library site. She said the Town of Carrboro understood this and was <br /> supportive, and the location of the parking deck has yet to be determined. She said this will be <br /> discussed further at the joint meeting with the BOCC next week. <br /> Jeff Thompson, Asset Management Services Director, reviewed the following <br /> information: <br />