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ORANGE COUNTY BOARD OF COMMISSIONERS ACTION AGENDA ITEM ABSTRACT Meeting Date: October 6, 2015 Action Agenda Item No. 7 -a SUBJECT: Additional Discussion Regarding a November 2016 Bond Referendum and Possible Consideration of a Preliminary Resolution To Set Bond Purposes and Amounts DEPARTMENT: County Manager, Finance and PUBLIC HEARING: (Y /N) No Administrative Services ATTACHMENT(S): Proposed Preliminary Resolution To Set Bond Purposes and Amounts INFORMATION CONTACT: Bonnie Hammersley, 919 - 245 -2300 Paul Laughton, 919 - 245 -2152 PURPOSE: To continue discussion regarding a November 2016 Bond Referendum, and to consider adoption of a preliminary resolution to set bond purposes and amounts. BACKGROUND: In several meetings during the past year, the Board of Commissioners has discussed the scheduling of a General Obligation Bond Referendum. A large part of the incentive for moving forward with a bond referendum is the repair, renovation, and upgrading of existing older school facilities. Both school systems completed facilities assessments reflecting needs totaling approximately $330 million. The scope of study for Chapel Hill - Carrboro City Schools included schools constructed prior to 1990, while the Orange County Schools study included all district buildings. At the Board of Commissioners January 30, 2015 Retreat, the Board directed staff to develop materials for Board consideration regarding the Board formally expressing its intent to schedule a November 2016 Bond Referendum, including a total bond package amount of approximately $125 million. The Board also directed staff to move forward with the development of a process for a November 2016 Bond Referendum similar to the process utilized during the County's 2001 Bond Referendum. At its March 3, 2015 Regular meeting, the Board discussed its intent to schedule a November 2016 Bond Referendum to address County and School capital needs; discussed the proposed creation of, structure, and charge for a proposed Capital Needs Advisory Task Force; and discussed the potential need for the services of a qualified facilitator for the Task Force. The Board subsequently requested additional information from staff and the two school systems for continued discussion at a future meeting.