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1 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: May 5, 2026 <br /> Action Agenda <br /> Item No. 5-a <br /> SUBJECT: Public Hearing on the Financing of Various Capital Investment Plan Projects <br /> DEPARTMENT: Finance and Administrative <br /> Services <br /> ATTACHMENT(S): INFORMATION CONTACT: <br /> Attachment 1. Public Hearing Notice Gary Donaldson, (919) 245-2453 <br /> Attachment 2. Resolution Kirk Vaughn, (919) 245-2071 <br /> Attachment 3. Presentation Robert Jessup, (919) 933-9891 <br /> PURPOSE: To conduct a public hearing on financing contracts for up to approximately $60.8 <br /> million to pay for capital investment projects and equipment for the fiscal year, and to approve a <br /> related resolution supporting the County's application to the Local Government Commission <br /> (LGC) for its approval of the financing arrangements. The financing and transaction costs will be <br /> included in the loan amount. <br /> BACKGROUND: This item marks the first formal steps in the Board's approval of the County's <br /> annual financing for capital investment projects and equipment for County purposes. County staff <br /> estimates that the total amount to be financed this year will be approximately $60.8 million. <br /> This year County staff recommends dividing the total financing package into two (2) parts, with <br /> one financing closing in June 2026 and the other closing in late July or early August 2026. This <br /> division into two (2) separate bond issues will allow the County to both replenish funds advanced <br /> for project costs before the end of the County's fiscal year, and then allow the County to borrow <br /> the required funds for the crisis diversion center without having to advance funds for a full year. <br /> The law requires that the County conduct a public hearing on the proposed financings. A copy of <br /> the published hearing notice is provided at Attachment 1. The notice of public hearing was <br /> advertised in the News of Orange. <br /> After conducting the public hearing and receiving public input, staff requests that the Board <br /> consider the adoption of a resolution (Attachment 2). This resolution formally requests the <br /> required LGC approval, makes certain "finding of fact" as required under the LGC's guidelines, <br /> and authorizes County staff to continue the process. County staff has been in contact with the <br /> LGC staff, and staff expects no issues in receiving LGC approval for either phase of the financing. <br /> This public hearing and adoption of the attached preliminary resolution will fulfill those particular <br /> legal requirements for both financings. <br /> If the Board adopts the attached resolution, the Board will be asked to consider a resolution giving <br /> final approval to the Phase I financing plans at its Business meeting on May 19, 2026. <br />