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RES -201 M48 <br /> Resolution supporting an application to the Local Government <br /> Commission for its approval of a County financing agreement <br /> WHEREAS -� <br /> The Board of Commissioners has previously determined to carry out various <br /> public improvements and acquisitions , as identified in the County ' s capital improvement <br /> plan and as described on Exhibit A . <br /> The Board of Commissioners has also determined to finance the costs of these <br /> projects through an installment financing , as authorized under Section 160A- 20 of the <br /> North Carolina General Statutes . <br /> Under the guidelines of the North Carolina Local Government Commission , this <br /> governing body must make certain findings of fact to support the County ' s application <br /> for the LGC ' s approval of the County ' s financing arrangements . <br /> 1 e THEREFORE , BE IT RESOLVE ® by the ® range County Board of <br /> Commissioners , as follows . <br /> ( a ) The County makes a preliminary determination to finance approximately <br /> $ 30 , 000 , 000 to pay capital costs of public improvements and acquisitions , and in <br /> particular those described on Exhibit A . <br /> ( b ) 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 /> $ 30 , 000 , 000 . The final amount financed will include funds to pay financing costs and <br /> other related costs , <br /> 2 . The Board of Commissioners makes the following findings of fact <br /> in support of the County ' s application to the LGC . <br /> ( a ) The proposed projects are necessary and appropriate for the County <br /> under all the circumstances . <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 to <br /> support a self- liquidating financing . The County is in the midst of a program for issuing <br /> voter- approved bonds for school purposes , and it is appropriate for the County to <br /> balance its capital program between various types of financings . The County expects <br /> that in the current interest rate environment for municipal securities there would be no <br /> material difference in the overall financing costs between general obligation bonds and <br /> installment financings for these projects . <br />