HomeMy WebLinkAboutAgenda - 10-14-1996 JOINT MEETING
ORANGE COUNTY BOARD OF COMMISSIONERS
ORANGE COUNTY BOARD OF EDUCATION
CHAPEL HILL-CARRBORO BOARD OF EDUCATION
MCDOUGLE ELEMENTARY SCHOOL
OCTOBER 14, 1996
7:00 Tour of Facilities - McDougle Elementary School (Optional)
The Chapel Hill-Carrboro Schools will host a tour of the new elementary
school for those wishing to visit the facilities. Meet at the main entrance
to the elementary school.
7:30 Long-Term School Capital Funding
Further discussion of options for a capital financing plan for new schools,
including a planned November 1997 bond issue.
8:30 Update on voter education on the Statewide School Bond
The two school systems discuss their plans for promoting public
understanding of the issues underlying the November 1996 Statewide
School Bond Referendum, including activities of the recently established
12 member citizen committee
8:45 Board of Commissioners and Chapel Hill/Carrboro Board of
Education review Carrboro Branch Library Contract
FOR THOSE ARRIVING AT 7:30: Enter through the front door and follow the
posted signs to the Science Room.
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10/1419
Highlights-continued
Highlights of Funding Options ♦ Current funding for Capital and Debt
continues:
♦New facilities as identified in the 1996-2006 Half cent sales taxes
Capital Improvements Plan are included:
• Property Tax:
Nor awr —$800,000
WOr • CHCCS New Middle School 2.7 cents
• CHCCS East CH High Addition —Debt service]992 bonds
on tax rate
• OCS New Elementary School —
—Human Services Automation and Utilities
Extension Fund
• Impact Fees
• Public School Building Funds
Major Differences in Current and
Proposed: Major Changes 5A to 513
• Proposed: ♦ Bond sales restructured from 2 to 3
• All debt service is subtracted before funds are ♦ Bond funds for renovations moved up one year
Wr allocated for CIP projects: ♦ Additional$1 million in bond funds replace"lost"
ION
•Current: funds for OCS.
• General obligation bonds are subtracted after • these funds are from the$3 million not yet
funds are allocated between the Schools and the specifically identified
County ♦ One cent general tax rate replaces one cent that is
• Private placement payments are being restored for capital reserve
subtracted after funds are allocated
Impact of Changing Bond Sales November 1997 $40 Million Bond
C-n
♦ Debt service peak year Ch school. 6%
01, 5w
shifts one year To a sp.cn.a
♦ Peak year amount is ex
swaao.wo reduced
`i
I
OC School
:8.000.000 01%
Long Range Funding Options 1