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10 <br /> Purpose <br /> ➢ Conduct Public Hearing for Limited Obligation Bonds pursuant to NC Statute Section 160A-20 <br /> ➢ Obtain Board Approval to Proceed with Filing Local Government Commission Application for Series 2021 <br /> Financing <br /> ➢ Funds our FY 2020-21 Capital Investment Plan through this Series 2021 Limited Obligation Bonds are <br /> secured by a Deed of Trust, with a security interest in the Whitted Building, Main Library, Blackwood Farms <br /> and Culbreth Middle School. <br /> ➢ The Series 2021 Limited Obligation Bonds will fund various County projects including: <br /> - Vehicles and Equipment (5-8 Years useful life): $908,906 <br /> - County Projects (up to 20 years useful life): $10.2 <br /> - School Projects (up to 20 years useful life): $7.5 Million <br /> TOTAL: $18.6 Million <br /> ➢ Potential Refinancing of up to four Bond Series totaling $19 million; Series 2012, 2014 Loan, 2014 Bank of <br /> America and 2017 Sterling Bank. <br /> ➢ Bond Refinancing Net Savings of$664,427 or 3% of the Refinanced Bonds over the maturity life of the Bonds. <br /> ORANGE COUNTY <br /> NORTH CAROLINA <br />