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M <br />RES- 2015 -053 <br />Resolution Stating an Intent To Proceed with a Referendum <br />For Orange County General Obligation Bonds <br />WHEREAS: <br />The Orange County Board of Commissioners has reviewed the need for capital <br />improvements for various public purposes. The Board of Commissioners has considered <br />alternative means of financing the costs of the desired improvements, and has made a <br />preliminary determination to finance at least some of the costs of these projects through <br />the issuance of general obligation bonds. The issuance of these bonds is subject to the <br />approval of the County's voters at a bond referendum. <br />BE IT THEREFORE RESOLVED by the Board of Commissioners of Orange <br />County, North Carolina, as follows: <br />1. The Board makes an initial determination to proceed with a referendum on <br />November 8, 2016, for County general obligation bonds for the following purposes and <br />in the following maximum amounts: <br />Purpose <br />Maximum Amount ($) <br />