Agenda - 12-11-2001-6a - Laserfiche WebLink

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12/ON01 a Highlights of Proposed 7lmatables November 2001 Bonds and Alternative Financing • Totals $111.] million in both bond and altamative financing antl consitlers various interest rotes antl timing of each sale. Since the [lining of each of these proposetl schedules is such that the peak years do not coincitle, the tax rate impact for fiscal year 2008-09 is projected to be between 6.45 antl ].1 cents. The 'information outlined below offers details about each of the proposed timetables. o November 20m Bontla ($]$ Million) • Table 1 outlines a potential achetlule for the Boertl to consitler es we make plans for issuing the recently approved $]5 million bond funds. In attar for the Counh to be fiscally pmdent in times of uncertainty, staff • recemmentls [hat we pursue selling the bonds in four inatallmanta overa 4- '/a year periotl. • As proposetl, [he County woultl issue the foal installment of bontls in January 2006. At that lime, stall protects annual deht service payments would range from about $5.8 million to $8.3 million (tlependent on various interest rates) and equate m between 4] and 5.1 cents on the tax rata. o Altemellve Flnandng ($36.] Million) • Table 2 outlines a potential timetable b issue $36 ]million In elternafive financing over a 5-year periotl to address the non-bantl funtletl projects, • Aa proposetl, the foal year of the altamative financing fimetable woultl be July 200]. At that time, staff estimates annual tlebt service payments woultl range fmm about $2] millionto $34 million in fiscal year 2008-99. The estimatetl fax rate impact of the altamative financing proposal ranges fmm about 2.1 and 2.4 cents in fscal year 200809. • Throughout the bond education campaign, we stressetl to our voters the[ we would place great emphaeis on balancing the timing of our projects withfinancial wnsitlarations of Orange County c¢izena. • Tha proposed schedules outline a plan that allows Commissioners b balance the "knowns" (the projacte idantifiad during the bond education campaign) with the 'unknowns' (economic uncedainty) The proposals attempt to meet the most pressing capital needs in the near suture while we pay close attention to the tax rate impacia and fiscal environment antl challenges. The attached tables outline, by fiscal year, the projected annual debt service antl the estimatetl tax rate impact. • Thie mul[Fyear plan will allow all of out bondpartners tp see how each identified project, regaNlesa of Its funding souroa, fts into our bigger picture [hat takes us from aduel wnstmction of a proteQ to operating the facilities once they are constructed