Agenda - 05-18-2021; 8-e - Adoption of the Final Financing Resolution Authorizing the Issuance of Installment Purchase Financing for Various CIP Projects and To Refinance Existing County Obligations

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2 contact with the LGC staff, and expects no issues in receiving full LGC approval. At the May 4 meeting, the Board adopted an appropriate resolution. A comment on the topic of the hearing was subsequently received within the 24-hour window for post-hearing comments, so this preliminary financing resolution is presented to the Board for adoption. If the Board adopts the final resolution approving the financing at tonight's meeting, staff expects to price the bonds and to set the final interest rates and other terms of the financing on June 3, 2021 contingent on market conditions. The closing is scheduled for June 24, 2021. FINANCIAL IMPACT: A preliminary estimate of maximum debt service applicable to the capital investment projects and equipment financing would require the highest debt service payment of $1.9 million in FY 2023 (based on current market interest rates). The tax rate equivalent for the estimated highest debt service payment is approximately $0.009 (0.9 cents). SOCIAL JUSTICE IMPACT: The following Orange County Social Justice Goal is applicable to this item: • GOAL: FOSTER A COMMUNITY CULTURE THAT REJECTS OPPRESSION AND INEQUITY The fair treatment and meaningful involvement of all people regardless of race or color; religious or philosophical beliefs; sex, gender or sexual orientation; national origin or ethnic background; age; military service; disability; and familial, residential or economic status. • GOAL: CREATE A SAFE COMMUNITY The reduction of risks from vehicle/traffic accidents, childhood and senior injuries, gang activity, substance abuse and domestic violence. • GOAL: ENABLE FULL CIVIC PARTICIPATION Ensure that Orange County residents are able to engage government through voting and volunteering by eliminating disparities in participation and barriers to participation. ENVIRONMENTAL IMPACT: The following Orange County Environmental Responsibility Goal impacts applicable to this item: • ENERGY EFFICIENCY AND WASTE REDUCTION Initiate policies and programs that: 1) conserve energy; 2) reduce resource consumption; 3) increase the use of recycled and renewable resources; and 4) minimize waste stream impacts on the environment. • RESULTANT IMPACT ON NATURAL RESOURCES AND AIR QUALITY Assess and where possible mitigate adverse impacts created to the natural resources of the site and adjoining area. Minimize production of greenhouse gases. RECOMMENDATION(S): The Manager recommends that the Board approve both the preliminary resolution in support of the County's LGC application and the final financing resolution, thereby approving the substantially final financing documents and authorizing County staff to complete the financing of the stated capital projects and equipment and refinancing of existing obligations.