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L <br />RES- 2018 -026 Attachment 2 <br />s *h draft of April 19 <br />Resolution supporting an application to the Local Government <br />Commission for its approval of a financing agreement <br />- 2018 Combined Proiects Installment Financing <br />WHEREAS -- <br />The Board of Commissioners has previously determined to carry out the <br />acquisition and construction of various public improvements, as identified in the <br />County's capital improvement plan. The Board of Commissioners desires to finance <br />these improvements through an installment financing, as authorized under Section <br />160A -20 of the North Carolina General Statutes. <br />Under the guidelines of the North Carolina Local Government Commission, <br />this governing body must make certain findings of fact to support the County's <br />application for the LGC's approval of the County's financing arrangements. <br />THEREFORE, BE IT RESOLVED by the Board of Commissioners of Orange <br />County, North Carolina, that the County makes a preliminary determination to <br />finance approximately $8,150,000 to pay capital costs of various public acquisitions <br />and improvements, and in particular the projects shown on Exhibit A. <br />The Board will determine the final amount to be financed by a later <br />resolution. The final amount financed may be slightly lower or slightly higher than <br />$8,150,000. Some of the financing proceeds may represent reimbursement to the <br />County for prior expenditures on project costs, and some proceeds may be used to <br />pay financing expenses or to provide any appropriate reserves. <br />BE IT FURTHER RESOLVED that the Board of Commissioners makes the <br />following findings of fact: <br />(1) The proposed projects are necessary and appropriate for the County <br />under all the circumstances. <br />