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PIA <br />FINANCIAL IMPACT: There is no financial impact related to conducting the public hearing and <br />approval of the resolution. However, there will be a financial impact in proceeding with the <br />financing. A preliminary estimate of maximum debt service applicable to the capital investment <br />projects and equipment financing would require the highest debt service payment of $1.2 million <br />in FY 2019 -20. The tax rate equivalent for the estimated highest debt service payment is <br />approximately .67 cent. <br />RECOMMENDATION(S): The Manager recommends that the Board open the public hearing, <br />close the public hearing, and adopt the resolution supporting the application to the Local <br />Government Commission for approval of the financing. <br />