HomeMy WebLinkAboutRES-1994-005 Resolution In Support of County Financings For School Construction Under Section 160A-20 P19F i- ig- 9q
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ORANGE COUNTY BOARD OF CONXISSIONERS
ORANGE COUNTY BOARD OF EDUCATION
CHAPEL HILL-CARRBORO BOARD OF EDUCATION
A RESOLUTION IN SUPPORT OF COUNTY FINANCINGS FOR SCHOOL
CONSTRUCTION UNDER SECTION 160A-20
WHEREAS, Section 160A-20 of the North Carolina General
Statutes authorizes local governments to engage in
"installment financings" , whereby North Carolina counties,
cities and certain other governmental units can borrow money
on a non-recourse basis by securing the'_- repayment
obligations with a pledge (mortgage) of properties to be
improved or financed with the financing proceeds; and
WHEREAS, Section 160A-20 does not authorize such financings
by Boards of Education; and
WHEREAS, several North Carolina counties have obtained local
legislation which enables those counties to undertake 160A-20
financings for school purposes on behalf of Boards of
Education within those counties, and;
WHEREAS, similar local legislation would authorize Orang3
County to own and construct school buildings and to equip
school buildings constructed and would autho-ize the Boards
of Education in Orange County to convey property to the
County to enable the County to own, construct, and equip
school buildings using 160A-20 financing; and
WHEREAS, the Orange County Board of Commissioners, the Orange
County Board of Education and the Chapel Hill-Carrboro Board
of Education have determined that 160A-20 financing is one
appropriate method for financing school building projects;
NOW, THEREFORE the Orange County Board of Commissioners, the
Orange County Board of Education, and the Chapel Hill-
Carrboro Board of Education do hereby jointly request the
legislative delegation representing Orange County to
introduce and support the attached local legislation during
the 1994 Short Session of the North Carolina General
Assembly.
This, the 18th day of January, 1994 .
- FEB 5 ? 4
APEL HILL-CARRBORO CITY SCHOOLS
Lincoln Center, Merritt Mill Road
Chapel Hill, North Carolina 27516
Telephone: (919) 967-8211
FAX: 919-933-4560
Nell G. Pedersen, Superintendent Ann Y. Hart, Assistant Superintendent
of Instructional Services
Chester F. Preyar, Assistant Superintendent
of Support Services
February 7, 1994
Mr. John Link
Orange County Manager
P. O. Box 8181
Hillsborough, N. C. 27278
Dear John:
In response to your earlier request, please note that on January 24,
1994, the Chapel Hill-Carrboro City Schools Board of Education passed a
resolution in support of county financing for school construction under Section
i 160A-20. A copy of the approved resolution is enclosed for your information.
Sincerely,
v 1
Neil G. Pedersen
Superintendent
NGP:jh
Attachment
CHAPEL HILL-CARRBORO CITY SCHOOLS
Lincoln Center, Merritt Mill Road
Chapel Hill, North Carolina 27516
Telephone: (919) 967-8211
Neil G. Pedersen Ann Hart, Assistant Superintendent
Superintendent for Instructional Services
Chester Prayer, Assistant Superintendent
for Support Services
TO: Board of Education
FROM: Neil G. Pederse
Superintendent Oe
RE: Resolution in Support of County Financings for School
Construction under Section 160A-20
DATE: January 19,= 1994
The Orange County Commissioners have requested that the two Boards
of Education in the County adopt the attached resolution to introduce legislation
which is required to facilitate the financing of a new elementary school through
the sale of Certificates of Participation.
The legislation allows the Board of Education to transfer ownership of
land that it currently owns to the County Commissioners for the purpose of
constructing a school. Present legislation allows school boards to transfer
property only if it is surplus. It is necessary to transfer the property to the County
Commissioners because they have authority to finance the construction of a
facility by mortgage whereas school boards do not. Final details will be worked
out in a specific, written inte rgovem mental cooperative agreement as provided
under G.S. 160A.
The legislation was drafted by the County's bond council; therefore, the
wording should not be changed. John McCormick has reviewed and approved
the legislation. The resolution was adopted by the County Commissioners on
January 18, 1994.
RESOLUTION ATTACHED