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ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />ACTION AGENDA ITEM ABSTRACT <br />Meeting Date: May 16, 2000 <br />Action AgencJ <br />Item No. <br />SUBJECT: Tax Exempt Financing of Two Fire Trucks for Eno Fire & Emergency Services <br />DEPARTMENT: County Manager/Emergency PUBLIC HEARING: (Y/N) No <br />Management <br />ATTACHMENT(S): <br />Resolution <br />4/16/00 Letter from Eno Chief <br />Certification of 4/10/QO Public Hearing <br />Affidavit of Legal Ad Publication <br />Public Hearing Requirements Imposed on <br />Volunteer Fire Departments <br />INFORMATION CONTACT: <br />Rod Visser, ext 2300 <br />Nick waters, ext 3030 <br />TELEPHONE NUMBERS: <br />Hillsborough 732-8181 <br />Chapel Hlll 968-4501 <br />Durham 688-7331 <br />Mebane 336-227-2031 <br />PURPOSE: To consider approval for the Eno Fire and Emergency Services, Inc. to acquire two <br />replacement fire trucks through atax-exempt financing arrangement with a local financial <br />institution. <br />BACKGROUND: Ena Fire & Emergency Services, Inc. provides fire protection to the residents <br />of the Eno Fire District under contract with Orange County. In their 1999-00 budget submission, <br />Eno's Board of Directors indicated their, intentions to purchase replacements this year far aging <br />pumper and tanker trucks. They plan to enter into a loan agreement for up to $350,000 to help <br />finance the purchase of two pumper tankers. <br />Under federal law, volunteer fire departments can qualify far tax-exempt financing of projects <br />such as this by meeting certain qualifications and administrative steps. Two key provisions are <br />the conduct of a public hearing on the matter, and approval of the financing arrangement by the <br />governing board of the jurisdiction with which the fire department contracts to provide fire <br />service. <br />Following appropriate required public notice, the Eno Board of Directors conducted a public <br />hearing on April 10, 2000 regarding the proposed financing of the vehicle acquisitions. A report <br />on the results of the public hearing has been provided to the Board of Cammissioners with this <br />agenda item. If adopted by the Commissioners, the attached resolution would indicate <br />the Board's approval of the tax-exempt financing arrangement between Eno Fire & Emergency <br />Services and a local financial institution, and would ratify the public hearing held on this subject. <br />