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36 <br /> 1 Orange County has a AAA credit rating and assuming a 2-percentage point impact: <br /> 2 <br /> 3 o For the existing bond portfolio, this would introduce an additional cost of$78.2 <br /> 4 million over the life of the bonds. <br /> 5 o For Orange County's new school bond program, this would add $50 million in <br /> 6 cost over the life of the bonds. <br /> 7 Commissioner Fowler said she supported the letter. She said on the first page, she said <br /> 8 she would add stronger language, such as "we oppose these changes." She said she would <br /> 9 also reiterate that on the last page. <br /> 10 Chair Bedford asked if references to NACo and NCACC both should be included. <br /> 11 Commissioner Carter said she had also heard feedback that the letter should be <br /> 12 referring to federal cuts, and that references to NACo and NCACC should be included in the <br /> 13 body of the email. <br /> 14 Commissioner Greene said at the end of section 2, there are three references but she <br /> 15 only saw two references. <br /> 16 Commissioner Carter said that was a typo. <br /> 17 Chair Bedford suggested removing the page break around the child protective services <br /> 18 section. <br /> 19 Vice-Chair Hamilton said she thought they should move the quotes to after the data to <br /> 20 be more consistent. <br /> 21 Chair Bedford said the sentence "This will force localities to dip into reserve funds," was <br /> 22 too weak. <br /> 23 Commissioner Greene suggested the phrase, "This will strain the localities reserve <br /> 24 funds." <br /> 25 Commissioner Fowler said she liked that because it made it shorter and easier to read. <br /> 26 Commissioner Greene said she would use the word "summary" instead of "executive <br /> 27 summary." <br /> 28 Chair Bedford said it would come back for approval on the Consent Agenda on March <br /> 29 18. <br /> 30 <br /> 31 Adjournment <br /> 32 <br /> 33 A motion was made by Commissioner McKee, seconded by Commissioner Fowler, to <br /> 34 adjourn the meeting at 10:35 p.m. <br /> 35 <br /> 36 VOTE: UNANIMOUS <br /> 37 <br /> 38 <br /> 39 <br /> 40 Jamezetta Bedford, Chair <br /> 41 <br /> 42 <br /> 43 Recorded by Laura Jensen, Clerk to the Board <br /> 44 <br /> 45 Submitted for approval by Laura Jensen, Clerk to the Board. <br />