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4 <br /> by the state and federal government. He said a levy limit does not reduce those obligations; it simply <br /> restricts the abilityto pay for them. He said the predictable results include pressure to cut services,delayed <br /> investments, and cost-shifting to other revenue sources such as fees. He said a constitutional levy limit <br /> treats the symptom but not the root cause,does not address rising costs or affordability, and risks creating <br /> new challenges without delivering the relief people are asking for. <br /> 5. Public Hearings <br /> None. <br /> 6. Regular Agenda <br /> a. Adoption of the Final Financing Resolution Authorizing the Issuance of 2026A Installment Purchase <br /> Financing for Various Capital Investment Plan Projects <br /> The Board adopted the final financing resolution authorizing the issuance of up to $32,000,000 in 2026A <br /> installment financing for capital investment projects and equipment for the fiscal year. <br /> BACKGROUND: At the May 5, 2026 Business meeting, the Board of County Commissioners conducted a <br /> public hearing and received preliminary information on capital projects and equipment financing for up <br /> to approximately $60.8 million. The Board made a preliminary determination to finance project, <br /> equipment and financing costs by the use of an installment financing, as authorized under Section 160A- <br /> 20 of the North Carolina General Statutes. The County routinely uses installment financing as the vehicle <br /> for the annual spring financing.The County has divided the total financing into two(2)installments:2026A <br /> and 2026B.This proposed action approves the issuance of the first installment identified as 2026A. <br /> With approval of the attached resolution, the Board gives final approval for the 2026A financing (up to <br /> $32,000,000). It approves substantially final financing documents, and authorizes staff to complete the <br /> closing. Staff anticipates receiving the required approval of the Local Government Commission on June 2, <br /> 2026, establishing the final bond amount and financing terms on June 10, 2026, and then closing the <br /> financing by the end of June 2026. As the process continues, staff will work with other financing team <br /> members to confirm final details of the funding and County payment arrangements, allowing staff to <br /> complete the remaining blanks in the documents.This process is consistent with past practice. <br /> The Board will be asked to give final approval of the 2026B issuance at the July 9, 2026, Business meeting. <br /> That issuance will primarily fund construction costs for the Crisis Diversion Facility. <br /> Notes regarding certain projects: <br /> - The Blackwood Farm Park project pertains to re-graveling and drainage work.There is no <br /> financing associated with this item for the proposed disc golf course. <br /> The Affordable Housing project pertains to Habitat East Village (funding for site infrastructure <br /> and development for East Village at Meadowlands 76 new units (2, 3, and 4-bedroom) of which <br /> 64 will be affordable Habitat homes for first-time homebuyers earning between 30% and 80%of <br /> area median income (AMI).The remaining 12 units (15%) in East Village will be market-rate <br /> homes. Pee Wee Homes pertains to construction of three (3) new affordable rental homes ("tiny <br /> homes") at 106 Hill Street in Carrboro. <br /> The 510 Meadowlands Phase 2 project pertains to remediation costs. <br /> COLLATERAL: In this type of County installment financing, the County secures its obligations to the <br /> bondholders by a mortgage-type interest in some or all the property being acquired or improved through <br /> the financing. The County plans to secure this 2026A financing through a pledge of several County <br />