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1 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: May 6, 2025 <br /> Action Agenda <br /> Item No. 5-a <br /> SUBJECT: Public Hearing on the Financing of Various Capital Investment Plan Projects <br /> DEPARTMENT: Finance and Administrative <br /> Services <br /> ATTACHMENT(S): INFORMATION CONTACT: <br /> Attachment 1 . Copy of Public Hearing Gary Donaldson, (919) 245-2453 <br /> Notice Kirk Vaughn, (919) 245-2153 <br /> Attachment 2. Resolution Robert Jessup, (919) 933-9891 <br /> Attachment 3. PowerPoint <br /> PURPOSE: To conduct a public hearing on a financing contract for up to $78.0 million to pay for <br /> capital investment projects and equipment for Fiscal Year 2024-25, and to approve a related <br /> resolution supporting the County's application to the Local Government Commission (LGC) for its <br /> approval of the financing arrangements. The financing and transaction costs will be included in <br /> the loan amount. <br /> BACKGROUND: This public hearing and adoption of the attached resolution marks the first <br /> formal steps in the Board's approval of the County's annual financing for capital investment <br /> projects and equipment, for both County and school purposes. County staff estimates that the <br /> total amount to be financed this year will be approximately $78.0 million. It should be noted that <br /> all of the projects and improvements to be funded were previously approved by the Board and are <br /> already moving forward in development. <br /> The law requires that the County conduct a public hearing on the proposed financing. A copy of <br /> the published hearing notice is provided at Attachment 1. The notice of public hearing was <br /> advertised in the News of Orange on April 16, 2025. <br /> After conducting the public hearing and receiving public input, the Board is asked to consider <br /> adoption of a resolution (Attachment 2). This resolution formally requests the required LGC <br /> approval, makes certain "findings of fact" as required under the LGC's guidelines, and authorizes <br /> County staff to continue the process. County staff has been in contact with the LGC staff, and <br /> staff expects no issues in receiving LGC approval. <br /> If the Board adopts the attached resolution, staff proposes to present a resolution to the Board <br /> giving final approval of the financing plans at its Business meeting on May 20, 2025. County staff <br /> expects to close the financing by the end of June. <br />