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i <br /> ( b ) The proposed installment financing is preferable to a bond issue for the <br /> same purposes . <br /> The County has no meaningful ability to issue non - voted general obligation <br /> bonds for these projects . These projects will produce no revenues that could be used <br /> to support a self- liquidating financing . The County is in the midst of a program for <br /> issuing voter - approved bonds for school purposes , and it is appropriate for the <br /> County to balance its capital program between various types of financings . The <br /> County expects that in the current interest rate environment for municipal <br /> securities there would be no material difference in the overall financing costs <br /> between general obligation bonds and installment financings for these projects . <br /> ( c) The estimated sums to fall due under the proposed financing contract <br /> are adequate and not excessive for the proposed purpose . The County will closely <br /> review proposed financing rates against market rates with guidance from the LGC . <br /> All amounts financed will reflect either approved contracts , professional estimates , <br /> or previous actual expenditures . <br /> ( d ) As confirmed by the County' s Finance Officer, ( 1 ) the County' s debt <br /> management procedures and policies are sound and in compliance with law, and (ii ) <br /> the County is not in default under any of its debt service obligations . <br /> ( e ) Although the County expects there will be tax increases associated with <br /> the County' s overall capital improvement program, any tax increase directly <br /> attributable to the current proposed financing will be minimal . The County will <br /> manage the projects and its borrowing plans so as to minimize the tax impact while <br /> still allowing the projects to proceed . The County believes that the tax rate impact <br /> of this financing is reasonable under all the circumstances . <br /> In addition , the County expects that debt service related to the solid waste <br /> fund projects will be fully paid from the County' s solid waste enterprise fund, and <br /> the debt service related to the utility projects in the Hillsborough EDD will be paid <br /> from Article 46 sales tax receipts . <br /> (f) The County Attorney is of the opinion that the proposed project is <br /> authorized by law and is a purpose for which public funds of the County may be <br /> expended pursuant to the Constitution and laws of North Carolina . <br />