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14 <br /> 1 Travis Myren said pending the Board's action, the Ad Valorem Tax Rate would become <br /> 2 83.53 cents per $100 of assessed value. <br /> 3 Commissioner Richards asked what the change was between the County Manager's <br /> 4 recommended tax rate increase and what the increase is after the budget amendments. <br /> 5 Travis Myren said the increase was .46 cents and will now be .41 cents. <br /> 6 <br /> 7 5. Break (to allow Budget staff to formulate the Draft Resolution of Intent to Adopt FY <br /> 8 2023-24 Operating Budget) <br /> 9 <br /> 10 A motion was made by Chair Bedford, seconded by Commissioner Fowler, to recess the <br /> 1 1 meeting for 12 minutes. <br /> 12 <br /> 13 VOTE: UNANIMOUS <br /> 14 <br /> 15 A motion was made by Commissioner Hamilton, seconded by Commissioner Fowler, to <br /> 16 reconvene the meeting at 8:21 p.m. <br /> 17 <br /> 18 VOTE: UNANIMOUS <br /> 19 <br /> 20 6. Resolution of Intent to Adopt FY 2023-24 Annual Operating Budget <br /> 21 Approval of Resolution of Intent to Adopt FY 2023-24 Annual Operating Budget at the <br /> 22 Board of County Commissioners Regular Meeting on June 20, 2023 <br /> 23 <br /> 24 Kirk Vaughn, Budget Director, reviewed the following resolution: <br /> 25 <br /> 26 <br /> 27 Resolution of Intent to Adopt the FY2023-24 <br /> 28 Orange County Budget <br /> 29 <br /> 30 The items outlined below summarize decisions that the Board acted upon June 8, 2023 in <br /> 31 approving the FY2023-24 Orange County Annual Operating Budget and the FY2023-24 (Year <br /> 32 1) Capital Investment Plan Budget. <br /> 33 <br /> 34 WHEREAS, the Orange County Board of Commissioners has considered the Orange County <br /> 35 FY2023-24 Manager's Recommended Budget and the FY2023-24 Manager's Recommended <br /> 36 Capital Investment Plan Budget; and <br /> 37 <br /> 38 WHEREAS, the Commissioners have agreed on certain modifications to the Manager's <br /> 39 Recommended Budget as presented in the FY2023-24 County Manager's Recommended <br /> 40 Budget on May 2, 2023; and to the FY2023-24 Manager's Recommended Capital Investment <br /> 41 Plan Budget as presented on April 4, 2023; <br /> 42 <br /> 43 NOW THEREFORE BE IT RESOLVED, that the Orange County Board of Commissioners <br /> 44 expresses its intent to adopt the FY2023-24 Orange County Budget Ordinance on Tuesday, <br /> 45 June 20, 2023, based on the following stipulations: <br /> 46 <br /> 47 1) Property Tax Rates <br /> 48 a) The ad valorem property tax rate shall be set at 83.53 cents per $100 of assessed <br /> 49 valuation. <br /> 50 b) The Chapel Hill-Carrboro City Schools District Tax shall be set at 19.80 cents per <br /> 51 $100 of assessed valuation. <br />