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Capital Funding Options -Staff Considerations <br />Prepared for the Apri120, 2005 <br />Board of County Commissioners Work Session <br />Capital Funding Options ! ~ <br />Staff Considerations <br />The March 31, 2005 agenda abstract, "Options for Implementing Capital Funding Policy Revisions <br />Including 60/40 School/County Funding Target", outlined a number of questions that staff <br />considered in developing the various capital funding options. Staff has developed the following <br />"Question and Answer" format to provide additional background information and further <br />explanations regarding staff considerations. <br />1. What funding sources are available for School and County capital funding? <br />The capital funding options presented to the Board to-date have included the following <br />funding sources to pay for School and County capital projects or debt service related to <br />school and county projerts,~ <br />• Pay-As-You-Go Sources for Long Range Capital -Schools and County <br />• Articles 40 and 42 Sales Taxes <br />Property Tax Dedicated to Retire Debt Service on 1988, 1992, 1997 and <br />2001 Voter Approved General Obligation Bonds <br />Property Tax Dedicated to Retire Debt Service Related to the 2001 (and <br />subsequently amended) Alternative Financing Plan (most recently endorsed <br />by the Board on October 25, 2005 <br />• Pay-As-You-Go Sources for Schools (Only) Long Range Capital and Debt Service <br />• Public School Building Funds <br />• School Construction Impact Fees <br />• Peak Debt Service (for Orange County Schools Only) <br />• Pay-As-You-Go Sources for County (Only) Long Range Capital and Debt Service <br />• Rental Income from Skills Development Center (to repay debt service on <br />Skills Development Center financing) <br />• Federal Inmate Fees (to repay debt service related to Jail and New <br />Courthouse Addition) <br />• Pay-As-You-Go Sources for School and County Recurring Capital <br />• Dedicated Property Tax for Schools Recurring Capital -equivalent of 3 <br />rents on property tax rate <br />• Dedicated Property Tax for County Capital - equivalent of i cent on <br />property tax <br />• Debt Financing <br />• Current and Future Voter Approved General Obligation Bonds <br />Current and Future Third Party Financing Arrangements such as <br />Certificates of Participation (COPs), Bank Loans, Lease/Purchase, etc. <br />