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38 <br /> Slide #7 <br /> What we ask the voters -- <br /> ORANGE COUNTY SCHOOL BONDS <br /> Shall the order authorizing $ of bonds plus interest to pay <br /> capital costs of providing public schools and paying related costs, and <br /> providing that additional taxes may be levied in an amount sufficient to <br /> pay the principal of and interest on the bonds,as adopted by the Orange <br /> County Board of Commissioners on 2024,be approved? <br /> Yes_ No— <br /> Slide #8 <br /> What we tell the voters -- <br /> 1. The County believes that an increase in the County's property tax rate of <br /> approximately cents per$100 of valuation will be necessary to provide for <br /> principal and interest payments on the bonds. [This is new since your last bond <br /> referendum.] <br /> 2. fused on the assumptions stated on the attached schedule, I estimate that the <br /> total amount of interest that will be paid on the bonds for the proposed purpose, <br /> over the expected term of the bonds if issued,is$ <br /> Slide #9 <br /> • The significant timing issue in <br /> Issuing proceeding with a bond issue is the <br /> b progress of the projects that are going <br /> bonds after to be financed. Projects drive the <br /> schedule. <br /> a successful • You have seven years to issue bonds <br /> referendum once approved by the voters. The LGC <br /> can (and usually will) extend that to ten <br /> years. <br />