Agenda - 11-19-2002-7b - Laserfiche WebLink

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3 Resolution supporting an application to the Local Government Commission for its approval of a financing agreement - 2002 Private Placement Installment Financing WHEREAS - Orange County has previously approved in principle the undertaking and financing of the following described projects by the use of an installment contract, as authorized under Section 160A-20 of the General Statutes: Renovations to Orange High School $950,000 Land acquisition for public buildings $1,000,000 Acquisition of easements and other property $1,000,000 interests for conservation purposes Renovations and improvements to County $525,000 building used by Orange Enterprises The County's undertaking of the financing was the subject of a public hearing held earlier today on November 19, 2002. Under the guidelines of the North Carolina Local Government Commission (the "LGC"), this governing body must make certain findings of fact to support the County's application for the LGC's approval of the County's proposed financing arrangements for the projects. NOW, THEREFORE, BE IT RESOLVED that the Board of Commissioners of Orange County, North Carolina, makes the following findings of fact: 1. The proposed projects are necessary and appropriate for the County under all the circumstances. The projects as a whole have been approved as part of the County's long-term capital improvements program. The proposed renovations and improvements to Orange High School and the County building used by Orange Enterprises are appropriate to prolong the lives and enhance the levels of service provided by those buildings. The County land acquisition is appropriate as part of the County's long-term plan to bring additional community college services to the County. The acquisition of easements or other property interests for conservation ALTFINANPLANPHRES 1119