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2 <br />RESOLUTION AUTHORIZING THE FILING OF AN APPLICATION <br />FOR APPROVAL OF A FINANCING AGREEMENT AUTHORIZED BY <br />NORTH CAROLINA GENERAL STATUTE 16OA -20 <br />WHEREAS, the County of Orange, North Carolina desires to <br />purchase land that will ultimately be used for the <br />construction of a Human Services Center in southern Orange <br />County to better serve the citizens of Orange County; and <br />WHEREAS, the County of Orange desires to finance the <br />Project by the use of an installment contract authorized <br />under North Carolina General Statute 160A, Article 3, Section <br />20; and <br />WHEREAS, findings of fact by this governing body must be <br />presented to enable the North Carolina Local Government <br />Commission to make its findings of fact set forth in North <br />Carolina General Statute 159, Article 8, Section 151 prior to <br />approval of the proposed contract; <br />NOW, THEREFORE, BE IT RESOLVED that the Board of <br />Commissioners of Orange County, North Carolina, meeting in <br />regular session on the fifth day of August, 1991, make the <br />following findings of fact: <br />1. <br />The proposed contract is necessary or expedient <br />because <br />a. The acquisition of property for construction of <br />a Southern Human Services Center is a priority <br />of the Board of County Commissioners and is an <br />integral part of the County's 5 year Capital <br />Improvement Plan. <br />b. Because of the prime location of the property, <br />the total cost exceeded the funds appropriated <br />in the Capital Improvement Plan. <br />c. Acquisition of the property in the proposed <br />contract will allow the County to centralize <br />it's Human Service operations in the Chapel Hill <br />area and provide better accessibility to the <br />citizens who require such services. <br />2. The proposed contract is preferable to a bond issue <br />for the same purpose because <br />a. Expenses associated with a bond issue of this <br />size would be prohibitive. <br />b. The amount to be financed under the contract, <br />($302,500) is minimal when compared to the <br />projects the County has historically included in <br />