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28 <br /> 1 preparation for the bond. She said costs just accelerate faster than any budget can keep up <br /> 2 with. She said she is concerned to hear CHCCS talking about focusing on a couple of projects, <br /> 3 as she believes Commissioners intended $30 million to address a wider number of emergency <br /> 4 projects: HVAC, leaking windows, etc. She said she would like the County to clarify with <br /> 5 CHCCS on the intent of these funds. She said OCS projects are addressing those types of <br /> 6 things. She said she questions when does a school just wear out and need to start over. She <br /> 7 said it may be valuable to have a work group start again to look at these issues. <br /> 8 Bonnie Hammersley clarified that once the budget passes on July 1, the County does a <br /> 9 reimbursement resolution, which gives schools the money that was budgeted for them in <br /> 10 advance of the borrowing, so there is no delay. She said the County reimburses itself with the <br /> 11 borrowing. She said the County wants schools to move forward with projects, and the $30 <br /> 12 million was specified for deferred maintenance, not to increase capacity. She said OCS took off <br /> 13 running with it. She said staff will work with schools to help them understand what those funds <br /> 14 are for. <br /> 15 Commissioner Dorosin asked if the Phillips repair actually did have to be delayed. <br /> 16 Bonnie Hammersley said the County put in money so CHCCS could bid in advance. <br /> 17 She said the County does not want to be a barrier for schools to move forward with projects, <br /> 18 and will work with both districts to ensure funds are available. <br /> 19 <br /> 20 A motion was made by Commissioner Bedford, seconded by Commissioner Dorosin, to <br /> 21 approve item 8-m. <br /> 22 <br /> 23 Roll call ensued. <br /> 24 <br /> 25 VOTE: UNANMIOUS <br /> 26 <br /> 27 a. Minutes <br /> 28 The Board approved minutes for the April 20, 2021 and April 22, 2021 Board of County <br /> 29 Commissioners meetings. <br /> 30 b. Approval of a Resolution on Renaming Braxton Bragg Court to Hydrangea Court <br /> 31 The Board approved a resolution, which is incorporated by reference, regarding the petition to <br /> 32 rename Braxton Bragg Court to Hydrangea Court, and authorize the Address Administrator to <br /> 33 submit the resolution to the North Carolina Board of Transportation for approval. <br /> 34 c. Approval of a Resolution on Renaming Joseph Johnston Court to Water Oak Court <br /> 35 The Board approved a resolution, which is incorporated by reference, regarding the petition to <br /> 36 rename Joseph Johnston Court to Water Oak Court, and authorize the Address Administrator to <br /> 37 submit the resolution to the North Carolina Board of Transportation for approval. <br /> 38 d. Affordable Housing General Obligation Bond Sale — $2,500,000 <br /> 39 The Board adopted the attached General Obligation (GO) bond resolution for the following <br /> 40 purposes: <br /> 41 1) Formally authorizes the sale of$2,500,000 in affordable housing bonds; <br /> 42 2) Formally pledges the County's taxing power to provide for payment on the bonds; <br /> 43 3)Approves the proposed form of the bonds; <br /> 44 4)Approves the form of the draft official statement for use in offering bonds to investors; <br /> 45 5) States the County's agreement to comply with the relevant provisions of federal tax <br /> 46 law and the federal rules for continuing disclosure to the securities markets; and <br /> 47 6)Authorizes County staff to complete the process of issuing the bonds and authorizing <br /> 48 the final principal payment schedule. <br /> 49 e. Adoption of the Final Financing Resolution Authorizing the Issuance of Installment <br /> 50 Purchase Financing for Various Capital Investment Plan Projects and To Refinance <br /> 51 Existing County Obligations <br />