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5 <br /> (4) The Board projects that repaying the bonds and related interest will <br /> require a property tax increase of approximately 3.41 cents per $100 of valuation <br /> over the next three County fiscal years. The Board finds that the expected tax rate <br /> impact is reasonable under the circumstances. <br /> The actual tax effect will depend on the final amount financed, the stages in <br /> which the bonds are issued, the length of the repayment period, the actual interest <br /> rates on the bonds when sold and the growth in the County's tax base over time. The <br /> County will work to minimize the tax rate impact in a manner consistent with moving <br /> ahead with school projects and addressing other County needs. <br /> BE IT FURTHER RESOLVED, as follows: <br /> (a) The Board directs the County Manager and the Finance Officer to <br /> proceed with the authorization of the referendum, including proceeding with an <br /> application to the LGC for its approval of the proposed bonds.The Board appoints the <br /> Finance Officer as the County's authorized representative with respect to the LGC <br /> application process. <br /> (b) The Board directs the County Manager, in collaboration with the Board <br /> Clerk,to publish a notice of the County's intent to apply to the LGC for approval of the <br /> bonds. This notice must be in the form prescribed by statute and consistent with this <br /> resolution. <br /> (c) The Board authorizes all County representatives to take all further <br /> action as they may consider desirable for accomplishing the purposes and intentions <br /> of this resolution.The Board ratifies all prior actions of County representatives in this <br /> regard. This resolution takes effect immediately. <br />