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30 <br /> 1 Slide #15 <br /> Rationale for Extending CIP from 5 to 10 Years <br /> Near Completion of $125 Million in 2016 <br /> Referendum Approved General Obligation (GO) <br /> Bonds; <br /> Determine Debt Affordability and Fiscal Years for <br /> Next Staff Recommendation for New GO <br /> Referendum Bands; and <br /> Stakeholders Coordination, Communications and <br /> Long-Term Financial Planning <br /> 4 <br /> ORANGE COUNTY <br /> T]ORTr I CARDLINA <br /> 2 <br /> 3 <br /> 4 Slide #16 <br /> Board Approved Debt Metrics <br /> f Debt Service as a Percentage of Revenues <br /> • IS% MCC Approved Policy Target <br /> • Ensures Fixed Charges are Limited,Remaining revenues available for <br /> Operating Budget <br /> • Rating Agencies and Bondholders Favor a Policy <br /> Y Total Debt as a Percentage of Assessed Value <br /> (Tax Base) <br /> • 3%BOCC Approved Policy Target <br /> • Current Total Debt to Assessed Value is 1.6% <br /> • Another Important Debt Limitation Policy that Rating Agencies and <br /> Bondholders ravor <br /> ORANGE COUNTY <br /> NORT]I CARGLINA <br /> 5 <br /> 6 <br /> 7 <br /> 8 <br />