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ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />ACTION AGENDA ITEM ABSTRACT <br />Meeting Dale: September 4. 2001 <br />Action Agantla <br />Item No. 9_'F <br />SU&IECT: Discussion of School entl County Capital Neetls No[ InrAUtletl in November <br />DEPARTMENT: County Manager/BUtlget PUBLIC NEARING: (YIN) Na <br />ATTACHMENT(S): INFORMATION CONTACT: <br />Table-Neetls Presentetl to Capital Neetls John Link or Rotl Visser, e# 2308 <br />Advisory Task Foroe Donna Dean, a#2151 <br /> TELEPHONE NUMNERS: <br />_ Hillsborough 732-8181 <br /> Chapel NIII g68-6581 <br /> Durham 888•]331 <br /> Mebane 336-22]-2831 <br />PURPOSE: To discuss options for atltlressing various school entl County capital neatls that <br />will not be funtletl by November 2001 general obligaton bonds. <br />BACKGROUND: The first item on the August 30 work sasaion agenda involved the BwN <br />making a number of tlaciaiona related to apec8lc bond questions [c be indutletl on the <br />November 2001 ballot, entl the amount of bontl tuntling allocated to vatlous capital projects. As <br />the Boarcl has notetl throughout the Capital Needs Advisory Taak Forw Pmceas, there will be <br />many school entl County capital neetla that cannot be atltlreeeetl in full, or even in part, by <br />general obligation (GO) bonds. eased on the BoaN's tlecisions al the August 30 work session <br />end subsequent actions ocwning at this meeting (September 4). those needa include, but are <br />not limiletl to: <br />• School Renovation projects <br />• Durham Technical Community College Satellhe Campus <br />• Justice Facilities <br />• Orange Enteryrises <br />• Oange County Library <br />• Various Parks and Open Spew protects <br />Ae a reference, the wmplete list of needs presented to, entl evaluatetl by, [he Cepi[el Neetls <br />Advisory Task Force in Sprang 2001 is a8achetl for [he eoam's review entl tliscussion. <br />FINANCIAL IMPACT; If voters approve $75 million in GO bontls, entl assuming [how bontls <br />are soltl in three wnaecueve annual sales of $25 million each, the BOCC will have the 8e#bility <br />tc issue atltlhbnal debt (through private placement loans, Certificates of Pard<ipation (COPS), <br />etc.) of roughly $5 - $~ million per year for the ne# four years to address capital needs not met <br />with GO bonds. Additional tlebt financing at those levels will allow the County to remain within <br />