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22 <br /> Slide #6 <br /> Questions/Comments <br /> ORANGE COUNTY <br /> NOWrl[CAROLIN.-i <br /> Commissioner Fowler asked the total value of county assets. <br /> Gary Donaldson said the county has to achieve a 50% threshold for financing, and the <br /> estimated total of the county's assets are around $200 million. He said when looking at projects <br /> that will be put up as collateral, 50% of that number is what is deemed comfortable. <br /> Bob Jessup, Bond Counsel, clarified that on $100 million of assets, the county could <br /> borrow up to $200 million. He said county must maintain a collateral value equal to <br /> approximately 50% of the total amount of debt that's outstanding. He said every year as debt is <br /> added, the county may or may not have to add to collateral. He summarized that the debt <br /> capacity is twice what is pledged as collateral. He said that in this case there is close to $200 <br /> million, so there is probably $80 million used for collateral. <br /> Commissioner Hamilton asked about points A and B of the Resolution. <br /> Bob Jessup said that was a typographical error, and B should have stated $46 million. <br /> Commissioner Hamilton asked about the Southern Campus expansion on the list of <br /> projects to be financed. <br /> Gary Donaldson said that is for parking improvements at the County's Southern Human <br /> Services Campus and is not connected to the Durham Tech campus expansion. <br /> Commissioner Fowler said if B in the Resolution is meant to be $46 million, what should <br /> A have been. <br /> Bob Jessup said that the first number should be up to $46 million to pay all the project <br /> costs and the financing costs. He said that a more refined number will come back on May 3 for <br /> final approval. <br /> Commissioner Richards said it would be good to know if regular contributions, like the <br /> Conservation Easement fund, have been used. <br /> Bonnie Hammersley said staff will go in detail about that during the April 12, 2022 <br /> meeting. <br /> A motion was made by Commissioner Greene, seconded by Commissioner Fowler, to <br /> open the public hearing. <br /> VOTE: UNANIMOUS <br /> There was no one signed up to speak for the public hearing. <br />