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2 . The Board makes the following findings of fact to support the <br /> County's application to the LGC : <br /> ( a) The proposed projects are necessary and appropriate for the County <br /> under all the circumstances . <br /> (b) The proposed installment financing is preferable to a bond issue for the <br /> same purposes . <br /> The County has no meaningful ability to issue non -voted general obligation <br /> bonds for these projects . It is appropriate for the County to balance its capital <br /> program between various types of financings, and the County has made extensive use <br /> of voter - approved and two - thirds general obligation bonds . These projects will not <br /> produce sufficient revenues to support a self- liquidating financing. The County <br /> expects that in the current interest rate environment for municipal securities there <br /> would be no material difference in the overall financing costs between general <br /> obligation bonds and installment financings for these projects . <br /> ( c) The estimated sums to fall due under the proposed financing contract <br /> are adequate and not excessive for the proposed purpose . The County will closely <br /> Pe <br /> review proposed financing rates against market rates with guidance from the LGC and <br /> the County' s financial adviser . All amounts financed will reflect either approved <br /> contracts, previous actual expenditures, or professional estimates . <br /> ( d) As confirmed by the County' s Finance Officer, (i) the County' s debt <br /> management procedures and policies are sound and in compliance with law, and ( ii) <br /> the County is not in default under any of its debt service obligations . <br /> (e) The County expects there will be tax increases associated with the <br /> County' s overall capital improvement program . Given the County' s need for the <br /> projects, the Board believes that the overall effect on the County' s budget and the tax <br /> rate from repaying the borrowed money will be reasonable under all the <br /> circumstances . The County will manage the projects and its borrowing plans so as to <br /> minimize the tax impact while still allowing projects to proceed and addressing the <br /> County' s full range of needs . <br />