HomeMy WebLinkAboutAgenda - 03-12-2008-2b03/12 08
Attachment 2. Tentative Debt Issuance Proposal to Meet Unfunded County and Schools' Capital Needs
March 12, 2008
1 Proposed Issue #1. Spring 2008 Alternative Financing
Animal Services Facilit Construction $8,000,000
Remainder of 2001 Voter Approved Bonds $6,900,000
Efland Sewer Completion $1 ,720,000
Total 5 rin 2008 Alternative Financin $16,620,000
s Proposed Issue #2. Spring 2009 Alternative Financing
7
8
9
Count Cam us Purchase $25,329,000
Total S rin 2009 Alternative Financin $25,329,000
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03/12 08
March 12, 2008
Legend
Debt not currently programmed into County's future debt issuance plans. Note: In September 2006, the Board agreed, with regard to future debt calculations, for staff to
assume an annual increase in the County's General Fund of 7 percent. The current Debt Management Policy allows for annual debt service payments to be no more than 15
percent of the total General Fund budget. According to Board approved assumptions and current staff calculations, the proposed amounts will allow the County to remain
within the Board's approved Debt Management Policy.
Attachment 2. Tentative Debt Issuance Proposal to Meet Unfunded County and Schools' Capital Needs
Proposed Issue #3. Seek Voter Approval of General Obligation Bonds in November 2008 (Cumulative Debt Capacity for fiscal years
10 2009 10 through 2012-13 anticipated to be $154 Million)
11
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14
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Chapel Hill Carrboro City Schools Carrboro High School $13,400,000 ~
Auditorium (projected completion date fiscal year 2011-12) _
Chapel Hill Carrboro City Schools Construction of Elementary
$31 ,000,000 o 0
#11 (projected completion date fiscal year 2011-12} ~ ~
m ~- °
Chapel Hill Carrboro City Schools Construction of Middle
700
000
$50 °~ °o
School #5 (projected completion date fiscal year 2011-12} ,
, ~ ~
Chapel Hill Carrboro City Schools Technology $5,000,000
Orange County Schools (Unspecified at this time; will require $10
000
000
further Board discussions ,
,
County -Parks (Unspecified at this time; will require further $8,000,000
Board discussions
County -Land Banking (Unspecified at this time; will require $10,000,000
further Board discussions
Total Proposed November 2008 General obligation Bonds $129,100,000
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18
19 Proposed Issue #4. Spring 2012 Alternative Financing
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21
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Purchase Hillsborou h Commons $14,800,000
Capital Cost to Up Fit Hillsborough Commons to Accommodate $5,300,000
Health and Other Human Services Departments
Construction of 15,000 Square Foot Addition to Southern
Human Services Center to Accommodate Relocation of Dental $5,200,000
Health Clinic from Carr Mill Mall
Total Pro osed S rin 2012 Alternative Financin $25,300,000
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03/12 08
Attachment 2. Tentative Debt Issuance Proposal to Meet Unfunded County and Schools' Capital Needs
March 12, 2008
Legend
Debt not currently programmed into County's future debt issuance plans. Note: In September 2006, the Board agreed for staff to assume an annual increase in the County's
General Fund of 7 percent. The current Debt Management Policy allows for annual debt service payments to be no more than 15 percent of the total General Fund budget.
According to Board approved assumptions and current staff calculations, the proposed amounts will allow the County to remain within the Board's approved Debt
Management Policy.
Proposed Issue #5. Seek Voter Approval of General Obligation Bonds in November 2013
24 (Cumulative Debt Capacity for fiscal years 2013-T4 through 2016-17 anticipated to be $162 Million}
25
26
27
28
29
30
31
32
33
34
Chapel Hill Carrboro City Schools Garrboro High School v
Classroom Addition (projected completion date fiscal year 2014 $13,400,a0a =
15) U ~
Chapel Hill Carrboro City Schools Construction of Elementary
$31
000
000 o °~
~ °~,
#12 {projected completion date fiscal year 2016-17) ,
, ~, ~,
-~
Chapel Hill Carrboro City Schools Construction of McDougle o
Middle School Auditorium (projected completion date fiscal $5a,70a,aaa ~_ ~'
ear 2015-16) `~
0
Chapel Hill Garrboro City Schools Technology $5,800,000 ~
Orange County Schools (Unspecified at this time; will require
further Board discussion; however, there may be a possible $40,000,x00
need of new school related to growth in Mebane area by this
eriod of the CIP
County -Parks (Unspecified at this time; will require further $11 ,000,0x0
Board discussions)
County -Land Banking (Unspecified at this time; will require $10,OOa,Oaa
further Board discussions)
Total Proposed November 2013 General Obligation Bonds $161,900,000
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03/12 08
Attachment 2. Tentative Debt Issuance Proposal to Meet Unfunded County and Schools' Capital Needs
March 12, 2008
r iaentitiea Neeas Not p-aaressea in ueat issuance
~enirai Hamirnstrauon esunaing ~onstrucuon - ~napei hni uarrooro ~iiy acnoois
Central Administration Building Construction -Orange County Schools
Chapel Hill Carrboro City Schools -Conversion of Lincoln Center to Educational Center
County Parks Beyond What Amounts Identified in Above Charts Will Purchase
Recreation and Parks Administration Building
Parks O erations Base
tt Proposal to Fund Southwest Branch of Oran a Count Librar
Redirect some pay-as-you-go funding from Human Services Reserve (as included in the
t2 Proposed 2008-18 CIP) to construction Southwest Branch of Orange County Library with
Pay-As-You-Go Funds to Open no later than fiscal year 2012-13
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