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52 <br /> 1 Commissioner Portie-Ascott asked why the county would want to exceed the lender's <br /> 2 requirements for collateral. <br /> 3 Bob Jessup, Bond Counsel, said this is done for two primary reasons. He said when the <br /> 4 county owns a school, they are eligible for sales tax reimbursement on construction costs, while <br /> 5 school boards are not. He said it is costless to have more collateral. He said by starting with so <br /> 6 much collateral, if there is ever a need to pull one out,there is still enough value left in the collateral <br /> 7 package to facilitate that process. <br /> 8 Commissioner Fowler asked if the collateral package can be amended later. <br /> 9 Bob Jessup said yes. <br /> 10 Commissioner Richards asked if there is a negative impact to having additional collateral. <br /> 11 Bob Jessup said no. He said this way, more money can be borrowed against the existing <br /> 12 pool without having to worry. <br /> 13 Chair Bedford asked if the BOCC or school board makes the decision about what happens <br /> 14 to a school that goes offline. <br /> 15 John Roberts and Bob Jessup said that until the loan is paid off, the county owns the <br /> 16 school. If the loan is paid off, then school system owns it. <br /> 17 <br /> 18 Slide #6 <br /> Debt Service Model Metric <br /> All CIP Project, <br /> Dem Silas iO-yer+f auyoul DetK to AY M is GF Revenues <br /> 2424 62.86% 1.64% 13 CC% <br /> N25 63 63% 1 66% 13.09% <br /> 2026 62.62% 1.2f9( 12 , <br /> 2027 Q3.37% 1.44% 14 19% <br /> 2028 60 43% 1.54% 14 59r'.o <br /> 2029 5g Gg9 1.77% 16.7096 <br /> 2030 62.10% 1.58% 18.34% <br /> 20-�1 64 39% 1.51% 19.67% <br /> 2032 62.42% 1.67% 19 01% <br /> 2033 65.05% 1 55% 1.9.32% <br /> 2034 V.52% 1 34% 19 89% <br /> ORANGE COUNTY <br /> NOWT FI CARIDLINA <br /> 19 <br /> 20 <br /> 21 <br />