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7 <br /> Financing Team and Pricing Schedule <br /> 2 <br /> 3 Commissioner Dorosin asked if the key debt model metrics slide shows red numbers, <br /> 4 because the County is over the 16% threshold. <br /> 5 Gary Donaldson said yes, and the County is required to have long-term models and <br /> 6 plans to address this, which gives the LGC comfort that there is a plan to address it. <br /> 7 Commissioner Dorosin asked if staff could confirm that the Community Loan Fund <br /> 8 would not make grants for capital campaigns. He asked if this reflects those organizations <br /> 9 that are taking advantage of this. <br /> 10 Bonnie Hammersley said yes, there are three organizations using these funds. She <br /> 11 said the County borrows the money for them, and then the organizations get the funds from <br /> 12 the County. She said these three organizations are included in these numbers. <br /> 13 Commissioner Dorosin said it would be good to have an information item on those <br /> 14 agencies, the payback expectation, how the Board handled this, and to publicize the <br /> 15 information. <br /> 16 <br /> 17 Public Comment <br /> 18 Riley Ruske said the updated information was not available prior to this meeting. He <br /> 19 said in the June budget meetings, projects were delayed or deferred because County <br /> 20 Management could not execute them on schedule. He asked if the additional $18 million <br /> 21 should be reduced to cover only those projects that are to be completed on schedule, thus <br /> 22 avoiding costly burdens on taxpayers. He said when the 2019-20 budget was prepared, <br /> 23 presumably the interest rate on the new bonds was similar to the then existing rates, meaning <br /> 24 the interest payments would be $500,000 less than what was budgeted. He said that, <br /> 25 combined with the savings of the refinancing the old bonds, the total savings appears to be <br /> 26 around $1 million. He said since this is funded primarily by property taxes, he would request <br /> 27 that this money be repaid back to the taxpayers in the form of rebate checks or reduced <br /> 28 property tax bills. <br /> 29 <br /> 30 A motion was made by Commissioner McKee, seconded by Commissioner Price for <br /> 31 the Board to approve the final financing resolution authorizing the steps to proceed with the <br /> 32 financing of the stated capital projects and equipment and refinancing of existing debt <br /> 33 obligations. <br /> 34 <br /> 35 VOTE: UNANIMOUS <br /> 36 <br /> 37 <br /> 38 b. Approval of Board of Commissioners Meeting Schedule for Calendar Year 2020 <br /> 39 The Board considered selecting between two draft meeting schedules, or a variation <br /> 40 there of, for the Board of County Commissioners meetings for calendar year 2020. <br /> 41 <br /> 42 BACKGROUND: In accordance with 143.318.12 of the North Carolina General Statutes, a <br /> 43 schedule of regular meetings shall be filed with the Clerk to the Board of County <br />