Orange County NC Website
5 <br /> 1 <br /> 2 A motion was made by Commissioner Bedford, seconded by Commissioner <br /> 3 Marcoplos to open the Public Hearing. <br /> 4 <br /> 5 VOTE: UNANIMOUS <br /> 6 <br /> 7 Public Comments: <br /> 8 None <br /> 9 <br /> 10 A motion was made by Commissioner Bedford, seconded by Commissioner <br /> 11 Marcoplos to close the Public Hearing. <br /> 12 <br /> 13 VOTE: UNANIMOUS <br /> 14 <br /> 15 A motion was made by Commissioner Bedford, seconded by Commissioner <br /> 16 Marcoplos for the Board to approve the FY2021 Community Transportation Program Grant <br /> 17 application; adopt a resolution for FY2021 in the total amount of$179,189 with a local match <br /> 18 of$26,878 to be provided when necessary; authorize the Chair to sign the Community <br /> 19 Transportation Program Resolution, the Local Share Certification for Funding form, and the <br /> 20 Anticipated DBE/DEW Vendor Awards form; and authorize the Chair and County Attorney to <br /> 21 review and sign the annual 2020 Certifications and Assurances documents when available. <br /> 22 <br /> 23 VOTE: UNANIMOUS <br /> 24 <br /> 25 Chair Rich pointed out that the social responsibility and environmental impact for this <br /> 26 program supports BOCC goals. She thanked staff for its work on this, as well as the solar <br /> 27 charging panels. <br /> 28 <br /> 29 6. Regular Agenda <br /> 30 <br /> 31 a. Adoption of the Final Financing Resolution Authorizing the Issuance of <br /> 32 $37,000,000 in Installment Purchase Financing for Various Capital Investment <br /> 33 Plan Projects Including Refinancing Existing County Debt of$16,359,886 <br /> 34 The Board considered adopting the final financing resolution authorizing the issuance <br /> 35 of approximately $37,000,000 in installment financing to finance capital investment projects <br /> 36 and equipment which includes refinancing $16,359,886 of existing County debt. The financing <br /> 37 includes amounts to pay transaction costs. <br /> 38 <br /> 39 BACKGROUND: At the September 3 and 17, 2019 regular Board meetings, the Board of <br /> 40 County Commissioners conducted public hearings and received preliminary information on <br /> 41 capital projects and equipment financing and refinancing existing debt obligations. The Board <br /> 42 made a preliminary determination to finance these capital projects and equipment, and <br /> 43 financing costs by the use of an installment financing, as authorized under Section 160A-20 of <br /> 44 the North Carolina General Statutes. <br /> 45 <br /> 46 The statutes require that the County adopt a financing resolution supporting the application to <br /> 47 the Local Government Commission (LGC) for approval of the financing. County staff has been <br /> 48 in contact with the LGC staff, and expects no issues in receiving full LGC approval. <br /> 49 <br /> 50 If the Board adopts the final financial resolution authorizing final approval for the financing, <br /> 51 staff expects the LGC to approve the financing plan at its October 1, 2019 meeting as well. <br />