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