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19 <br /> The total of the estimated project costs is $43 million, while the requested approval is for a loan <br /> amount not to exceed $46 million. The difference between the two figures covers financing <br /> costs. The $46 million figure was derived while staff was considering financing that would be a <br /> public sale bond offering, instead of the private bank placement now being pursuing. The public <br /> sale offering has higher financing costs, and the means in which bonds are sold to investors <br /> can lead to a higher loan amount even with no higher total cost to the County. The final loan <br /> amount will not exceed the amount the County needs to pay project costs and financing costs. <br /> If the Board adopts the resolution indicating its intent to continue with the financing plan, the <br /> Board will be asked to consider a resolution giving final approval to the financing plans at its <br /> Business meeting on May 3, 2022. Under the current schedule, County staff expects to set the <br /> final interest rates and close by the end of May. <br /> Gary Donaldson Gary Donaldson, Chief Financial Officer, gave the following PowerPoint <br /> presentation: <br /> Slide #1 <br /> ORANGE COUNTY <br /> NORTH CAROLINA <br /> Series2022 Limited Obligation Bonds <br /> Spring F[na ncing Resolution <br /> Gar,Ewakun Chlef FKUrk0A0ff1Cer <br /> April 5, 2022 <br />