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23 <br /> 1 Slide#2 <br /> Background <br /> ■ School Capital!Needs Taskforce recommended School Facility Study to priodti7e <br /> both School DistrictfaciIitieswith Faci I ityConditions Index as a key measure. <br /> ■ At the Board of Commissioners Retreat on January 19,2024,the County approved <br /> moving forward with a funding plan for County and School Facility Needs. Funding <br /> for this plan includes: <br /> A$3d4 million General Obligation School Bond Referendum and additional Pay- <br /> Go School Funding of$140 million. <br /> Limited Obligation Bond funding for identified County Facility Needs and <br /> previou sl y a pproued C I P projects. <br /> • New State Law requires GO Bond Ballot to include Total Debt Service(Principal <br /> and Interest)and GD Bond Tax Rate. Prior Bond Ballots had included the Principal <br /> amount. <br /> ■ Local Government Commission has reviewed the County Plan of Finance and{debt <br /> Policies with Staff, Financial Advisors and Bond Counsel to ensurecompl lance with <br /> the new State Law.. <br /> • Four separate Board Actions required from April 2 through June 4,2024. <br /> ORANGE COUNTY <br /> NOM-H CARDLINA <br /> 2 <br /> 3 <br /> 4 Slide #3 <br /> Total Tax-Supported Debt to Assessed Value <br /> and Debt Service to General Fund Revenues <br /> Tax Rate Breakdown of CipiU; <br /> lmprovemenf Plan <br /> Year DOW La AY IDS to Gf Tax Rim in Bas&CIP. <br /> Revenues Equivalent 2.7$0 <br /> 2024 1.a4% L3 6 z - <br /> 2025 1.66% 13.0s5= School <br /> P�yGo: <br /> 2026 1.21% 12.83si 8.88� 2AK <br /> 202+7 144% 14.18% - <br /> 2028 1.54% 14.59% School <br /> GO Bonds. <br /> 2029 1.7 T° 15 79% 3A10 <br /> 2030 3.M% 18.34% <br /> 2031 151% 15 67% <br /> 2032 1.67% 19.01% <br /> 2033 1.55% 19 32% <br /> 2034 134% 19.89% <br /> 2035 1.21% i$.99% <br /> Total I rnpact 8.384 <br /> ORANGE COUNTY <br /> NOM-H C.AROLINA <br /> 5 <br /> 6 <br /> 7 <br /> 8 <br />