Minutes - 20080819 - Laserfiche WebLink

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Commissioner Gordon asked if the interest rates were low enough now that the difference between issuing as alternative financing and General Obligation (GO) bonds is such that is is lower to do alternative financing. Gary Humphreys said that it depends on whether the banks still have the capacity to do this type of financing. He thinks that the alternative financing is cheaper than doing the GO debt. A motion was made by Commissioner Carey, seconded by Commissioner Foushee to approve a reimbursement resolution, which is incorporated by reference, of capital expenses for Affordable Housing from the proceeds of a future financing; AND To approve a reimbursement resolution, which is incorporated by reference, of capital expenses for Parks and Open Space. VOTE: UNANIMOUS A motion was made by Commissioner Foushee, seconded by Commissioner Carey to approve a request for authority to issue the remaining unissued$1.4 million Affordable Housing 2001 voter approved bonds and$5.5 million Parks and Open Space unissued bonds as Alternative Financing rather than General Obligation bonds. VOTE: UNANIMOUS b. Orange County Fire Insurance District Boundary Maps The Board considered approving fire insurance district boundary maps in Orange County for twelve rural fire districts. Fire Marshal Mike Tapp introduced this item. He said that N.C. Department of Insurance has allowed fire insurance districts, for insurance purposes, to extend the boundaries from five miles to six miles, which would allow property owners who live between five and six road miles from their respective fire stations to go from a class 10 rating to a class 9 rating. This will reduce insurance premiums for fire protection. Staff is also asking the Board to approve the five-mile district insurance maps because they have changed partly due to annexations and inaccuracies in old maps. The maps have been reviewed by the N. C. Department of Insurance and approved. All of the districts are extending or requesting to extend the insurance maps, with the exception of two districts. East Alamance is under a contractual agreement with Efland to provide a service in the western part of the County. All of the properties within that area are within five road miles from the fire station. The Greater Chapel Hill Fire District has some remaining parcels left in it, which is covered by the Chapel Hill Fire Department and all of those properties are within five road miles of the fire station. Commissioner Gordon made reference to the maps and said that there are some properties that are fairly close to town, but outside the six-mile district. This is in the North Chatham district. Mike Tapp said that the maps for this district were obtained from Chatham County. The County Commissioners asked clarifying questions, which were answered by Mike Tapp. Commissioner Nelson said that it would be helpful to him if the purpose statement of the agenda items reflected what the agenda items were really about. Mike Tapp said that the N. C. Department of Insurance has information on the website about insurance premium savings. Chair Jacobs asked the Clerk to make a note of this to put the information in the tax bills. Commissioner Gordon said that she would like information about mutual aid agreements and automatic aid agreements to be given to the Commissioners.