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2 . The Board makes the following findings of fact in support of the <br /> County' s application to the LGC : <br /> ( 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 capital improvement program, any tax increase directly <br /> attributable to the current proposed financing will be minimal ., The County will <br /> manage the projects and its borrowing plans so as to minimize ' the tax impact while <br /> still allowing the projects to proceed . The County believes that the tax rate impact of <br /> this financing is reasonable under all the circumstances . <br />