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49 <br /> 1 Slide#1 <br /> Agenda Item B.a. <br /> ORANGE COUNTY <br /> NORTH CAROLINA <br /> Framework for School Capital <br /> Project Funding <br /> Board of Commissioners Business Meeting <br /> June 4, 2024 <br /> 2 <br /> 3 <br /> 4 Slide #2 <br /> Decision Points <br /> • Correction to Tax Rate in Financial Impact section <br /> — The tax rate increase associated with the$300 million school bond is 3.41 cents, not <br /> 8.88 cents. <br /> • Purpose <br /> — To establish a framework for school capital project funding associated with the 2024 <br /> bond referendum and other high priority capital needs. <br /> �1 <br /> 2 ORANGE ACOUNA Y <br /> 5 <br /> 6 Commissioner McKee asked if this discussion was related to the bond language on the <br /> 7 ballot. <br /> 8 Travis Myren said no. <br /> 9 Commissioner McKee said it will cost the residents of the county 8.88 cents for all the <br /> 10 pieces of the plan, not just the part related to the bond. He said he wanted to be clear with the <br /> 11 residents. <br /> 12 Travis Myren said that the 8.88 is based on a whole variety of assumptions and not the <br /> 13 least of which is how the projects will be sequenced. <br /> 14 Commissioner McKee said that they cannot predict interest rates. He said that a lot of <br /> 15 borrowing occurs later in the sequence. He said a lot of it will not be borrowed day one. <br />