HomeMy WebLinkAboutRES-1996-037 Resolution of Intent to Implement a Long-Term School Capital Financing Plan and to Support the Statewide School Bond � S - t 9 91
ORANGE COUNTY BOARD OF COMMISSIONERS
A RESOLUTION OF INTENT TO IMPLEMENT A LONG-TERM SCHOOL CAPITAL
FINANCING PLAN AND TO SUPPORT THE STATEWIDE SCHOOL BOND
WHEREAS, the Orange County and Chapel Hill-Carrboro City Schools Capital
Improvement Plans reflect the need for substantial financial investment in the
construction of new school space, and
WHEREAS, implementation of an Orange County funding plan for these school capital
needs depends heavily on passage of the November 1996 Statewide school bond that
would provide approximately $17 million in school capital funding to the two school
systems in Orange County, and
WHEREAS, a joint effort of the County, school systems, parent-teacher organizations,
and other interested parties would be helpful in educating citizens about the issues
underlying the Statewide school bond referendum
NOW, THEREFORE, BE IT RESOLVED THAT the Orange County Board of
Commissioners does hereby express its intent to implement Option 5A as a long-term
school capital financing plan, which encompasses the following elements:
0 private placement financing for a new elementary school in the Chapel Hill-Carrboro
City Schools district
• a $40 million bond referendum, with $35 million for School Capital Projects and the
remainder for County, Park and Affordable Housing projects
• reallocation of capital funds (as shown at Attachment 2) for on-going capital projects
including shifting the one cent currently earmarked for capital reserves to County
capital projects beginning in 1998-1999
• appointment of a Citizen's Advisory Committee to study School and County capital
needs and report back to the Board of Commissioners
BE IT FURTHER RESOLVED THAT the County Manager is hereby directed to consult.
with the school superintendents and develop recommendations to the Board of
Commissioners on establishment of an Orange County citizens steering committee on
educating citizens about the November 1996 Statewide school bond.
This, the 17th day of September, 1996.