CFE 011402 - Laserfiche WebLink

Browse Search

Highlights of Proposed TImatable November 2001 Bonds and Alternative Financing Totals $ 111 . 7 rnillion in - both bored and altorriative financing and considers various interest rates and timing of each sale , SInce the tlrning of each of these proposed schedules is such that the peak gears do not coincide , the tax rate impact for fiscal year 2008 �09 is projected to tie between 6 . 45 and 7 . 1 cents . The information outlined below offers details about each of the proposed timetables . S o November2001 Bond !& ( $ 75U111111on ) ■ Table 1 outl [ nos a potential schedule for the Board to consider as we make plans for i .s oIng the recently approved $ 75 million Mond funds , ■ In order for the County to be f tally prudent in times of unourtainty , staff recommends that we pursue selling tha bands in four I nsta 11 m ent:5 over a 4 - 1f year period . As proposed , the County would issue the final installment of bends in January 2006 . At that time , staff projects annual debt service payments would range from about $ 5 . 8 mll ; ior to $ 0 . 3 million ( dependent on various interest rates ) and equate to between 4 . 7 and 5 . 1 c ats on the tax rate . c� A Gmativa Flnanef ng J 36 .7 Million ) Table 2 outlines a potential timetab] E3 to issue $ 216 . 7 million in alternative financing over a ;5 -year ponmod to address the non � bcnd funded projects , ■ As proposed , the final gear of the alttmativa financing timetable would be July 2007 . At that time , staff estirnates annual debt service payments would range from 8bout $ 2 . 7 miElionoto $ 3 . 1 million in fiscal year 0013 - 09 . The estimated tax rate impact of the alterative financing proposal ranges from about 2 . 1 and 2A cents in fi -scal year 2 00 + 09 . ■ Throughout the band education campaign , we stressed to our voters that we would place great empha $ is en balancing the timing of our projects with6finandal considerations of Orange County citizens . The proposed schedules outline a plan that allows Commissioners to balance the Lknowns ° (the prr facts identified during the toad edu �;ation campaign ) with the uunknowns � ownomic un rtainty) The proposals attempt to meet the most pres3ing capital needs in the hoar futu r6 while we pay okose attention to the tax rate impacts and fiscal environment and challenges , The attached tables outline , by fiscal year , the projected annual debt service and the estimated tax rate impact . This multLyear plan will allow all of our bondepartners to see how each identified project , regardless of Its funding source , fits into our bigger picture that takes us from actual construction of a projec to operating the facilities once they aria constructed .