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16 <br /> 1 Slide #19 <br /> FY2024-25 RECOMMENDED BUDGET <br /> Mission Statement <br /> Orange County is a visionary leader in providing governmental services <br /> valued by our community, beyond those required by law,in an equitable, <br /> sustainable, innovative, and efficient way. <br /> Vision Statement <br /> We are a diverse, inclusive, and Healthy county working together to <br /> strengthen our community and enhance the quality of life for all residents. <br /> ORANGE COUNTY <br /> NORTH CAROIAPlA <br /> 2 <br /> 3 Chair Bedford said budget questions can be asked at the various budget work sessions <br /> 4 or sent to staff. She said all answers will be shared with the full board. <br /> 5 Commissioner McKee said he appreciates Bonnie Hammersley's explanation of the <br /> 6 48.1% target for the school budgets this year. <br /> 7 <br /> 8 5. Public Hearings <br /> 9 a. Public Hearing on the Financing of Various Capital Investment Plan Projects <br /> 10 The Board conducted a public hearing on the issuance of approximately $23,500,000 to finance <br /> 11 capital investment projects, and equipment for the fiscal year; and approved a related resolution <br /> 12 supporting the County's application to the Local Government Commission (LGC) for its approval <br /> 13 of the financing arrangements. The financing and transaction costs are included in the loan <br /> 14 amount. <br /> 15 <br /> 16 BACKGROUND: County staff estimates that the total amount to be financed for capital <br /> 17 investment projects and equipment will be approximately $23,500,000. The North Carolina <br /> 18 General Statutes require that the County conduct a public hearing on the proposed financing. A <br /> 19 copy of the published notice of this public hearing is provided (Attachment 1). <br /> 20 <br /> 21 The notice of public hearing was advertised in The Herald Sun and The News of Orange County. <br /> 22 <br /> 23 After conducting the public hearing and receiving public input, the Board is asked to consider the <br /> 24 adoption of the resolution (Attachment 2). The resolution formally requests the required approval <br /> 25 from the North Carolina Local Government Commission (LGC) for the County's financing and <br /> 26 makes certain finding of fact as required under the LGC's guidelines. County staff has been in <br /> 27 contact with the LGC staff, and staff expects no issues in receiving LGC approval. <br /> 28 If the Board adopts the resolution indicating its intent to continue with the financing plan, the Board <br /> 29 will be asked to consider a resolution giving final approval to the financing plans at its May 21, <br />