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2 <br /> General Obligation Bond sale. Careful consideration has been taken by the financing team to <br /> enter the bond markets and the team is daily monitoring market conditions up until 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 June 15, 2021. The GO bond closing is scheduled <br /> for July 8, 2021. <br /> FINANCIAL IMPACT: The amortization schedule is based on 20 Years Level Principal. The GO <br /> debt issuance is factored into the County's tax rates, Debt Affordability Model Metrics as indicated <br /> below: <br /> Debt Ratios 10-year Payout Debt to AV DS to GF Revenues <br /> 2022 63.36% 1.63% 16.02% <br /> 2023 62.14% 1.69% 15.33% <br /> 2024 64.02% 1.61% 16.00% <br /> 2025 65.78% 1.51% 15.40% <br /> 2026 67.95% 1.41% 14.58% <br /> 2027 70.83% 1.27% 14.73% <br /> 2028 74.22% 1.13% 12.80% <br /> 2029 78.71% 1.01% 11.86% <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 />