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Home My WebLink AboutRES-1997-035 Resolution Setting Public hearing and authorizing filling of debt Statement Resolution setting public hearing and -;J (55 - t � Gj 7— 6 3 S authorizing t'ilin,2 of debt statement WHEREAS,there have been introduced at this meeting bond orders entitled as follows: BOND ORDER AUTHORIZING THE ISSUANCE OF GENERAL OBLIGATION SCHOOL BONDS OF ORANGE COUNTY, NORTH CAROLINA, IN THE MAXIMUM AMOUNT OF$47,000,000 BOND ORDER AUTHORIZING THE ISSUANCE OF GENERAL OBLIGATION PARKS AND RECREATION FACILITIES BONDS OF ORANGE COUNTY, NORTH CAROLINA,IN THE MAXIMUM AMOUNT OF$6,000,000 BOND ORDER AUTHORIZING THE ISSUANCE OF GENERAL OBLIGATION PUBLIC BUILDING BONDS OF ORANGE COUNTY, NORTH CAROLINA, IN THE MAXIMUM AMOUNT OF$4,600,000 BOND ORDER AUTHORIZING THE ISSUANCE OF GENERAL OBLIGATION LOW AND MODERATE INCOME HOUSING BONDS OF ORANGE COUNTY, NORTH CAROLINA, IN THE MAXIMUM AMOUNT OF$1,800,000 BOND ORDER AUTHORIZING THE ISSUANCE OF GENERAL OBLIGATION SEWER EXPANSION BONDS OF ORANGE COUNTY, NORTH CAROLINA, IN THE MAXIMUM AMOUNT OF$1,200,000 AND WHEREAS, Section 159-57 of the General Statutes requires that a public hearing be held on each such bond order prior to its adoption, Section 159-56 of the General Statutes requires publication of a notice of such hearing, and Section 159-55 of the General Statutes requires the filing of a statement of debt with the Clerk to the Board prior to the public hearing; BE IT THEREFORE.RESOLVED by the Board of Commissioners of Orange County, North Carolina, that a public hearing on each such bond order shall be held at 7:30 p.m. on August 20, 1997, in the Council Meeting Room, Chapel Hill Town Hall, 306 North Columbia Street, Chapel Hill,North Carolina, and the Clerk to this Board is hereby authorized and directed to publish a notice of each such public hearing, in the form provided for in Section 159-56 of the General Statutes, one time, not less than six days prior to such hearing date, in a newspaper having general circulation in the County; AND BE IT FURTHER RESOLVED that the County's Finance Officer is hereby authorized and directed to prepare and file, prior to the publication of the notice of public hearing, a sworn statement of the County's net debt in the form prescribed by statute. 9 SWORN STATEMENT OF DEBT For Orange County. North Carolina I, Kenneth T. Chavious, being first duly sworn, do hereby state that I am the Finance Officer for Orange County, North Carolina, that I have been designated by the Board of Commissioners of Orange County,North Carolina, to make and file with the Clerk to such Board of Commissioners a sworn statement of debt, and that the following is the statement of debt for Orange County, North Carolina, as shown by the books in my office, prepared in accordance with, and made pursuant to the requirements of, Section 159-55 of the North Carolina General Statutes. A. Gross Debt 1. Outstanding debt evidenced by bonds: Purpose Amoun Schools 45,900,000 Public buildings Other Ilefixxtin8 1 22,215,000 Total $ 68,115,000 2. Bonds authorized by orders introduced but not yet adopted: Purpose Amount Schools 47,000,000 Public buildings 4,600,000 Parks and recreational facilities 6,000,000 Low and moderate income housing 1.80D,000 Sewer expansions 1,200,000 Total $ 60,600,000 10 3 3. Unissued bonds authorized by adopted orders: Purpose Amount Total $ 4. Outstanding debt not evidenced by bonds: purpose Amount Fquip wM 141,278 School Constuctinn 22,363,628 Jail/ C urthouse 1,&36,%1 Public &AldirW 1,153,537 Total $25,495,404 Total Gross Debt(sum of 1 through 4) $ 156.210.4M B. Deductions from Gross Debt 1. Funding and refunding bonds authorized by orders introduced but not yet adopted. $ �' 2. Funding and refunding bonds authorized but not yet issued. $ -� 3. Amounts held in sinking funds or otherwise for the payment of any part of the principal of gross debt, other than debt incurred for water, gas, electric light or power purposes or sanitary sewer purposes (to the extent deductible under Section 159- 55(b) of the General Statutes), or two or more of these purposes. $ -o- 4. Bonded debt included in gross debt and incurred, or to be incurred, for water, gas or electric light or power purposes, or any two or more of such purposes. $-0- 11 5. Bonded debt included in gross debt and • incurred, or to be incurred, for sanitary sewer purposes (to the extent deductible under Section 159-55(b) of the General Statutes). $ -O- 6. Uncollected special assessments levied for local improvements for which any part of gross debt (that is not otherwise deducted) was or is to be incurred, to the extent that the special assessments will be applied, when collected, to the payment of any part of the gross debt. $ -o- 7. Estimate of special assessments to be levied for local improvements for which any part of gross debt (that is not otherwise deducted) was or is to be incurred, to the extent that the special assessments will be applied, when collected, to the payment of any part of the gross debt. $ -0- Total deductions (Sum of 1 through 7) $ ..o_ C. Net Debt, being the difference between Total Gross Debt(A) and Total Deductions(B). $ 154,210,404 D. Appraised Value of property subject to taxation, being the value from which the assessed value last fixed for taxation was computed, as revealed by the County tax records and certifled by the County Tax Assessor. $ 5,153,275,662 E. Percentage that Net Debt bears to the appraised value of property subject to taxation. 2.99 % WITNESS my signature this day of August, 1997. Kenneth T. Chavious Finance Officer Orange County,North Carolina 12 STATE OF NORTH CAROLINA ORANGE COUNTY Subscribed and sworn before me this day of August, 1997. Notary Public [Seal] My commission expires I, John Smith, Orange County Tax Assessor, hereby certify that the assessed value last fixed for taxation in Orange County, North Carolina, as revealed by County tax records (before the application of any assessment ratio),is $ 5,153,275,662 . WITNESS my signature this day of , 1997. John Smith Tax Assessor Orange County, North Carolina I, Beverly A. Blythe, Clerk to the Board of Commissioners of Orange County, North Carolina, do hereby certify that the foregoing is a true copy of a statement which was filed with me on August , 1997, after the introduction of, and before the public hearing on, orders authorizing bonds of Orange County, North Carolina, and that said statement is open to public inspection in my office. Beverly A. Blythe Clerk, Board of Commissioners Orange County,North Carolina