Agenda - 08-31-2006-1 - Laserfiche WebLink

Browse Search

r rates of 9, 7, 5 and 3 percent. Staff has also considered the anticipated tax rate impact of future debt issuances and included that information in the attachments of this agenda abstract. Staff has provided charts and graphs related to those analyses: • Attachment 3A - Annual Debt Service Capacity Based on 9% Annual Increase in County's General Fund • Attachment 3B - Annual Debt Service Capacity Based on 7% Annual Increase in County's General Fund • Attachment 3C - Annual Debt Service Capacity Based on 5% Annual Increase in County's General Fund • Attachment 3D - Annual Debt Service Capacity Based on 3% Annual Increase in County's General Fund While Cornrnissioners may find the format of the chart and graph attachments to be familiar, the County's Budget Director, Donna Dean Coffey plans to offer the audience additional details related to the analyses during the work session on August 31, 2006. In addition, County and School staffs will be available to update the Board on projects such as Central Orange Senior Center and SportsPlex addition, sustainable building features at the Durham Technical Community College Satellite Campus, and CHCCS Elementary #10. Attachment 4 of this abstract, Current Building Construction Projects — Project Highlights as of August 31, 2006 provides a brief update for County projects only. During the August 31 work session discussion, staff recommends that the Board begin to prioritize County and School capital needs based on the information presented. The Board may find it helpful to view Attachment 2 of this agenda abstract (County and School Capital Projects Requiring Debt Funding) as a guide in discussing capital funding priorities. In addition to affordability and tax rate impacts of future debt, another important factor for the Board to consider as we plan for new projects is the annual cost to open and operate those facilities. Staff will be prepared to discuss operating impacts during the August 31 and subsequent work sessions. C. Other Considerations Related to Funding School Capital Projects Recent action taken by the General Assembly this summer provides a new funding alternative for Commissioners and School Boards to consider as they construct new schools. Senate Bill 2009 (Attachment 4 of this agenda abstract), signed into law by the Governor on August 12, 2006, offers a number of non - traditional alternatives for constructing new schools. Robert Jessup, the County's Bond Counsel plans to review Senate Bill 2009 with the Board and respond to questions during the August 31, 2006 work session.