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28 <br /> 1 Slide #22 <br /> FY2021-22 RECOMMENDED BUDGET <br /> MISSION STATEMENT <br /> Orange Countyeaists to provide governmental services needed by <br /> our Residents or mandated by the State of North Carolina. <br /> To providethesecluaIitysery ices efficiently,we must: <br /> ❑Serve the Residents of Orange County—Our Residents Come <br /> ELSL <br /> ❑De pen don the energy,skills,and dedication of all our <br /> employees and voIu nteers; <br /> ❑Treata 11 our Residents and Employees with fairness,respect, <br /> and understanding. <br /> Oranue County Residents Come First <br /> PI An {RUNTY <br /> 2 naxn..mm�xne <br /> 3 <br /> 4 Bonnie Hammersley thanked the Board for their support. <br /> 5 <br /> 6 <br /> 7 RECESS <br /> 8 <br /> 9 A motion was made by Commissioner Greene, seconded by Commissioner Fowler, to <br /> 10 recess the meeting. <br /> 11 <br /> 12 Roll call ensued <br /> 13 <br /> 14 VOTE: UNANIMOUS <br /> 15 <br /> 16 RECONVENE THE MEETING <br /> 17 <br /> 18 Commissioner Fowler was not yet present, but due to a quorum of board members being <br /> 19 present, Chair Price asked for a motion to reconvene the meeting. <br /> 20 <br /> 21 A motion was made by Commissioner Hamilton, seconded by Commissioner Dorosin, to <br /> 22 reconvene at 9:16 p.m. <br /> 23 <br /> 24 Roll call ensued. <br /> 25 <br /> 26 VOTE: UNANIMOUS <br /> 27 <br /> 28 5. Public Hearings <br /> 29 <br /> 30 a. Public Hearing on the Financing of Various Capital Investment Plan Proiects <br /> 31 The Board conducted a public hearing on borrowing approximately $18,700,000 to <br /> 32 finance capital investment projects and equipment for the fiscal year; and up to approximately <br /> 33 $18,070,000 to refinance existing County loans and approve a related resolution supporting the <br /> 34 County's application to the Local Government Commission (LGC) for its approval of the <br /> 35 financing arrangements. The amount for refinancing may vary as staff further refines the <br /> 36 analysis, and the financing and transaction costs are included in the loan amount. <br /> 37 <br /> 38 BACKGROUND: <br /> 39 County staff estimates that the total amount to be financed for capital investment projects and <br /> 40 equipment will be approximately $18,700,000 consistent with the County's Capital Improvement <br />