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( a) The proposed projects are necessary and appropriate for the County <br /> under all the circumstances . <br /> (b ) The proposed installment financing is preferable to a bond issue for the <br /> same purposes . <br /> The County has no meaningful ability to issue non - voted general obligation <br /> bonds for these projects . It is appropriate for the County to balance its capital <br /> program between various types of financings, and the County has made extensive use <br /> of voter - approved and two - thirds general obligation bonds . The County expects that <br /> in the current interest rate environment for municipal securities there would be no <br /> material difference in the overall financing costs between general obligation bonds <br /> and installment financings for these projects . These projects will produce no <br /> revenues that could be used to support a self- liquidating financing. <br /> ( c) The estimated sums to fall due under the proposed financing contract <br /> are adequate and not excessive for the proposed purpose . The County will closely <br /> review proposed financing rates against market rates with guidance from the LGC and <br /> the County' s financial adviser . All amounts financed will reflect either approved <br /> contracts , previous actual expenditures , or professional estimates . <br /> ( d) As confirmed by the County' s Finance Officer, (1) the County' s debt <br /> management procedures and policies are sound and in compliance with law, and (ii) <br /> the County is not in default under any of its debt service obligations . <br /> ( e) Although the County expects there will be tax increases associated with <br /> the County' s overall ten -year capital improvement program, there will be no tax <br /> increase directly attributable to the current proposed financing. <br /> ( f) The County Attorney is of the opinion that the proposed projects are <br /> authorized by law and are purposes for which public funds of the County may be <br /> expended pursuant to the Constitution and laws of North Carolina . <br /> 3 . Additionally, the Board resolves as follows : <br /> ( a) The County intends that the adoption of this resolution will be a <br />