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2 <br /> The County staff and Orange County Schools (OCS) have worked to develop a Financing Plan <br /> that meets the OCS Cash flow requirements, County Debt Affordability, and Local Government <br /> Commission bond approval requirements. <br /> In accordance with the County Capital Investment Program, and in advisement with the County's <br /> bond counsel and financial advisor, the County staff recommends that the County proceed with <br /> the General Obligation Bond sale. Careful consideration has been taken by the financing team <br /> to enter the bond markets at this time and the team is daily monitoring market conditions up <br /> through the bond sale. <br /> The actual interest rates on these bonds will be set when the Local Government Commission <br /> takes competitive bids from underwriters on May 12, 2020. <br /> FINANCIAL IMPACT: The amortization schedule is based on 20 Year Level Principal. The GO <br /> debt issuance is factored into the County's Debt Affordability Model. <br /> SOCIAL JUSTICE IMPACT: The following Orange County Social Justice Goal is applicable to <br /> this item: <br /> • GOAL: ENSURE ECONOMIC SELF-SUFFICIENCY <br /> The creation and preservation of infrastructure, policies, programs and funding necessary <br /> for residents to provide shelter, food, clothing and medical care for themselves and their <br /> dependents. <br /> ENVIRONMENTAL IMPACT: The following Orange County Environmental Responsibility Goal <br /> impact is applicable to this item: <br /> • ENERGY EFFICIENCY AND WASTE REDUCTION <br /> Initiate policies and programs that: 1) conserve energy; 2) reduce resource consumption; <br /> 3) increase the use of recycled and renewable resources; and 4) minimize waste stream <br /> impacts on the environment. <br /> RECOMMENDATION(S): The Manager recommends that the Board approve the attached GO <br /> Bond resolution. <br />