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23 <br /> Slide #2 <br /> Background <br /> • School Capital Needs Taskfarce recommended School Facility Study to priorit¢e <br /> both School❑istrictfaciIi ties with FaciIityConditions 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$300 million General Obligation School Bond Referendum and additional Pay- <br /> Go School Funding of$144 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 Inferest)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 /> Policieswith Staff, FinancialAdvisorsand Bond Counselto ensu re compl iance with <br /> the new State Law.. <br /> • Four separate Board Actions required from April 2 through June 4,2424� <br /> ORANGE COUNTY <br /> NORTH C.AKULINA <br /> Slide #3 <br /> Total Tax-Supported Debt to Assessed Value <br /> and Debt Service to General Fund Revenues <br /> Tax Rate Breakdown of Capita; <br /> Improvement Flan <br /> Year Debt to AV DStoGF Tax Rate BaseCIP_ <br /> Ravenues Equivalent 2.7" <br /> 2024 184% 13.80% <br /> 2025 1.8646 13.09�5 School <br /> PayGo_ <br /> 2026 121% 12.83l6 8.884 2,6" <br /> 2027 1.44% 14.15% - <br /> 2028 1.14% 14.59% School <br /> GO Bonds_ <br /> 2029 1,77% 18.79% <br /> 2034 1.58% i8.34% <br /> 2031 151% 19.67% <br /> 2032 167% 19.01% <br /> 2033 155% 19.52% <br /> 2034 1.34% 19.89% <br /> 2035 121% 18.89% - <br /> Total I mpact 8.884 <br /> ORANGE COUNTY <br /> NORTH CAROLLNA <br />