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19 <br /> 1 The total of the estimated project costs is $43 million, while the requested approval is for a loan <br /> 2 amount not to exceed $46 million. The difference between the two figures covers financing <br /> 3 costs. The $46 million figure was derived while staff was considering financing that would be a <br /> 4 public sale bond offering, instead of the private bank placement now being pursuing. The public <br /> 5 sale offering has higher financing costs, and the means in which bonds are sold to investors can <br /> 6 lead to a higher loan amount even with no higher total cost to the County. The final loan amount <br /> 7 will not exceed the amount the County needs to pay project costs and financing costs. <br /> 8 <br /> 9 If the Board adopts the resolution indicating its intent to continue with the financing plan, the <br /> 10 Board will be asked to consider a resolution giving final approval to the financing plans at its <br /> 11 Business meeting on May 3, 2022. Under the current schedule, County staff expects to set the <br /> 12 final interest rates and close by the end of May. <br /> 13 <br /> 14 Gary Donaldson Gary Donaldson, Chief Financial Officer, gave the following PowerPoint <br /> 15 presentation: <br /> 16 <br /> 17 Slide #1 <br /> ORANGE COUNTY <br /> NORTH CAROLINA <br /> Series 2022 Limited Obligation Bands <br /> Spring Financing Resolution <br /> GasYD-fi:'�Sodi'CI'llel hn"s UMCEv <br /> April 5, 2022 <br /> 18 <br /> 19 <br /> 20 <br />