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16 <br /> 3. Discussion of Bond Referendum Projects <br /> BACKGROUND: At its January 2024 retreat, the Board of County Commissioners signaled its <br /> preferences for a proposed school bond. The Board set on a $300 million Bond Referendum <br /> which, with existing resources and $100 million in Pay-Go funding, would be sufficient to fund <br /> Option C of the Woolpert Long Range School Optimization Plan. The Board also signaled a <br /> preference for a project-based allocation of capital funding to ensure that the Woolpert priorities <br /> were met. Since then, County and school staff have worked with Woolpert to align the long-term <br /> plan with the current capital spending plans. <br /> At the Board's May 7, 2024 Business meeting, County staff presented the statutes and policies <br /> that dictate school capital funding. At the May 21, 2024 Business meeting, the Board received <br /> presentations from both the County and the two Districts on their preferred spending plans on the <br /> bond. <br /> This work session offers the Board an opportunity to review and discuss the respective plans, <br /> as well as well as the Board's preferred role for the County in directing and managing the <br /> upcoming Bond Referendum. The Board will be expected to formally vote on its decision at the <br /> Board's June 4, 2024 Business Meeting. <br /> Travis Myren made the following presentation: <br /> Slide #1 <br /> Agenda Item 3. <br /> ORANGE COUNTY <br /> NORTH CAROLINA <br /> Discussion of School Capital Plan and <br /> Next Steps <br /> Board of Commissioners Business Meeting <br /> May 23, 2024 <br />