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16 <br /> Slide #19 <br /> FY2024-25 RECOMMENDED BUDGET <br /> Mission Statement <br /> Orange County is a visionary leader in providing governmental services <br /> valued by out community, beyond those requited 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 /> NOKrH CAROIAM4 <br /> Chair Bedford said budget questions can be asked at the various budget work sessions <br /> or sent to staff. She said all answers will be shared with the full board. <br /> Commissioner McKee said he appreciates Bonnie Hammersley's explanation of the <br /> 48.1% target for the school budgets this year. <br /> 5. Public Hearings <br /> a. Public Hearing on the Financing of Various Capital Investment Plan Protects <br /> The Board conducted a public hearing on the issuance of approximately $23,500,000 to finance <br /> capital investment projects, and equipment for the fiscal year; and approved a related resolution <br /> supporting the County's application to the Local Government Commission (LGC) for its approval <br /> of the financing arrangements. The financing and transaction costs are included in the loan <br /> amount. <br /> BACKGROUND: County staff estimates that the total amount to be financed for capital <br /> investment projects and equipment will be approximately $23,500,000. The North Carolina <br /> General Statutes require that the County conduct a public hearing on the proposed financing. A <br /> copy of the published notice of this public hearing is provided (Attachment 1). <br /> The notice of public hearing was advertised in The Herald Sun and The News of Orange County. <br /> After conducting the public hearing and receiving public input, the Board is asked to consider the <br /> adoption of the resolution (Attachment 2). The resolution formally requests the required approval <br /> from the North Carolina Local Government Commission (LGC) for the County's financing and <br /> makes certain finding of fact as required under the LGC's guidelines. County staff has been in <br /> contact with the LGC staff, and staff expects no issues in receiving LGC approval. <br /> If the Board adopts the resolution indicating its intent to continue with the financing plan, the Board <br /> will be asked to consider a resolution giving final approval to the financing plans at its May 21, <br />