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1 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: May 18, 2021 <br /> Action Agenda <br /> Item No. 8-e <br /> SUBJECT: Adoption of the Final Financing Resolution Authorizing the Issuance of <br /> Installment Purchase Financing for Various Capital Investment Plan Projects <br /> and To Refinance Existing County Obligations <br /> DEPARTMENT: Finance and Administrative <br /> Services <br /> ATTACHMENT(S): INFORMATION CONTACT: <br /> Attachment 1 . Resolution in Support of Gary Donaldson, (919) 245-2453 <br /> LGC Application for Paul Laughton, (919) 245-2152 <br /> Financing Robert Jessup, (919) 933-9891 <br /> Attachment 2. Resolution Approving <br /> Financing Terms and <br /> Documents for 2021 <br /> Installment Financing <br /> Attachment 3. Deed of Trust <br /> Attachment 4. Trust Agreement <br /> Attachment 5. Escrow Agreement <br /> Attachment 6. Modification to Culbreth <br /> School Lease <br /> Attachment 7. Draft Preliminary Official <br /> Statement <br /> Attachment 8. Bond Purchase Agreement <br /> PURPOSE: To adopt the preliminary and final financing resolutions authorizing the issuance of <br /> approximately $45,000,000 in installment financing to finance capital investment projects and <br /> equipment for the fiscal year, and to refinance existing County obligations. The financing will also <br /> include amounts to pay transaction costs. <br /> BACKGROUND: At the May 4, 2021 Board Business meeting, the Board of County <br /> Commissioners conducted a public hearing and received preliminary information of capital <br /> projects and equipment financing and refinancing existing debt obligations. The Board made a <br /> preliminary determination to finance costs of these projects and equipment, and financing costs <br /> by the use of an installment financing, as authorized under Section 160A-20 of the North Carolina <br /> General Statutes. <br /> The statutes require that the County adopt a financing resolution supporting the application to the <br /> Local Government Commission (LGC) for approval of the financing. County staff has been in <br />