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RES-2025 - 019;5yj ), 1(0/a6 Attachment 2 <br /> Resolution supporting an application to the Local Government <br /> Commission for its approval of a County Financing Agreement <br /> - 2025 Multiple Proiect Installment Financing <br /> Introduction The Orange County Board of Commissioners has previously determined to <br /> carry out various public improvements and acquisitions, as identified in the County' s <br /> capital improvement plan and as described in Exhibit A. <br /> The Board has made a preliminary determination to finance project costs <br /> through an installment financing, as authorized under Section 160A- 20 of the North <br /> Carolina General Statutes . In an installment financing, the County' s repayment <br /> obligation is secured by a mortgage -type interest in all or part of the property being <br /> acquired or improved, but not by any pledge of the County' s taxing power or any <br /> specific revenue stream . In this case, the County expects that some or all of the <br /> facilities listed on Exhibit B will serve as the primary collateral . <br /> State law requires that the County' s financing be approved by the North <br /> Carolina Local Government Commission (the " LGC ") , a division of the North Carolina <br /> State Treasurer' s office . Under the LGC ' s guidelines, this governing body must make <br /> certain findings of fact to support the County' s application for the LGC ' s approval . <br /> 1 . The Orange County Board of Commissioners RESOLVES, as follows : <br /> ( a) The County makes a preliminary determination to finance <br /> approximately $ 78 , 000, 000 to pay capital costs of public improvements and <br /> acquisitions, and in particular those described in Exhibit A, and to pay financing costs . <br /> (b) The Board will determine the final amount to be financed by a later <br /> resolution . The final amount financed may be higher or lower than $ 78 , 000 , 000 . Some <br /> of the financing proceeds may represent reimbursement to the County for prior <br /> expenditures on project costs, and the County will use some proceeds to pay financing <br /> costs . <br />