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Orange County <br />Hillsborough <br />North Carolina <br />34,(aget o7IF4ce <br />TO: Orange County Board of Commissioners <br />FROM: Donna Dean, Budget Director <br />DATE: June 17, 2004 <br />RE: Debt Issuance Schedule <br />A _ftLc�)rin _ 2 <br />Fs ta I is /I ed 1 52 <br />The attached spreadsheet offers the most recent version of the County's Debt Issuance Schedule <br />for alternative financing and 2001 voter approved bonds. The Board endorsed this particular <br />version of the schedule on May 5, 2004. At a quick glance, the spreadsheet appears very <br />complicated to follow; therefore, the following information attempts to clarify the information <br />contained in the schedule. <br />Columns <br />o Columns A and B (shaded in light green) reflect the issuances that occurred in fiscal year <br />2002-03. <br />o Columns C through L approximate, by fiscal year, debt issuance amounts that would be <br />needed for each project. The amounts coincide with the most recent cash flow projections <br />received from County staff as well as the County's bond partners. <br />o Columns M through 0 provide total debt funding for individual projects. <br />Rows <br />• The first line for each project (highlighted in yellow) provides, by project, the estimated debt <br />issuance amounts that staff presented to the Board at the October 27, 2003 work session. <br />• The second line for each project (highlighted in grey) provides, by project, the most recent <br />debt issuance amounts that the Board endorsed on May 5, 2004. The Board subsequently <br />approved the actual debt issuance amounts for fiscal year 2004-05 (columns E and F) at <br />the June 8, 2004 Commissioners meeting. <br />• Row 66 of the chart (highlighted in pink) includes the proposed two-thirds net debt bond <br />issuance of $4.2 million that the Board approved on June 8, 2004. Additional information <br />related to specific project recommendations is included on the spreadsheet entitled <br />"Proposed Projects to Fund with 2004 Two-Thirds Net Debt Bonds" (Attachment 3 of the <br />enclosed CIP materials). <br />• Row 69 of the chart provides the grand total of all projects proposed to the Board on <br />October 27, 2003. <br />o Row 70 of the chart provides the grand total of all projects endorsed by the Board on May <br />5, 2004. <br />o Row 71 of the chart (highlighted in purple) provides the grand total of the approved debt <br />issuance schedule originally approved by the Board on September 3, 2002. <br />Feel free to contact me if you have additional questions regarding the attached Debt Issuance <br />Schedule. <br />7-elephokse: P�) adeaki'Or'a onqnge. PLO. k-.- Fax: <br />20950kth oam&ron street Post 07'Fb0,e <br />