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HomeMy WebLinkAboutAgenda - 08-23-1994-IX-A t � 1 ORANGE COUNTY BOARD OF COMMISSIONERS Action Agenda Item No. -9-Ar ACTION AGENDA ITEM ABSTRACT Meeting Date: August 23, 1994 SUBJECT: Introduction of Bond Order for Farmland Preservation Referendum ------------------------------ ---------------------------------- DEPARTMENT: Finance PUBLIC HEARING YES: NO: X ------------------------------- ---------------------------------- ATTACHMENT(S) : INFORMATION CONTACT: Ken Chavious Correspondence from Bond Counsel Suggested Form of Board Proceedings TELEPHONE NUMBER- Sworn Statement of Debt Hillsborough - 732-8181 Bond Order Chapel Hill - 968-4501 Suggested form of Bond Question for Mebane - 227-2031 Ballot Durham - 688-7331 ---------------------------------------------------------------------- PURPOSE: To introduce the Bond Order and take other actions for the November 8, 1994 Farmland Preservation Bond Referendum as required by the Local Government Bond Act. BACKGROUND:On June 28, 1994 the Board authorized publication of a "Notice of Intent" to file an application with the Local Government Commission LGC seeking approval to hold a Bond Referendum on November 8 1994. In � ) g PP , addition, the Board also approved a timetable of the various steps to be taken in connection with the proposed referendum. The "Notice of Intent" was published on August 3, 1994 and the application has been filed with the LGC. The next step in the referendum process is the Introduction of the Bond Order. This is usually accomplished by the Board Chair reading the Order aloud. Subsequent to the Bond Order's introduction, a public hearing date on the Order should be established, and the Finance Director is required to file a "Sworn Statement of Debt" with the Clerk to the Board. In addition, the Board is required to approve the form of the bond question to be posed on the ballot for the Novermber 8, 1994 election. In accordance with the approved timetable the public hearing should be held on September 6, 1994 and the "Sworn Statement of Debt" filed within the proceedings of this meeting. Finally, the Bond Order and the public hearing notice must be published by August 31, 1994 in order to meet the requirements set forth in the timetable. RECOMMENDATION(S) : The Manager recommends that the Board: a. Introduce the Bond Order as mentioned above. b. Authorize the Finance Director to file the "Sworn Statement of Debt." c. Set the public hearing date for September 6, 1994. d. Instruct the Clerk to publish the Bond Order and public hearing notice by August 31, 1994. e. Approve the form of the bond question to be posed on the November 8, 1994 ballot. 2 y 555 CALIFORNIA STREET B R O W N & WOOD BLACKWELL MOUSE r SAN FRANCISCO,CA.94104.1715 GUILDHALL YARD TELEPHONE:415-772-1200 LONDON EC2V SAD FACSIMILE:415.397-4621 ONE WORLD TRADE CENTER TELEPHONE:071-606-1666 NEw YORK, N.Y. 10048-0557 FACSIMILE.071-796-1607 61S CONNECTICUT AVENUE,N.W. WASHINGTON,D.C.20006-4004 TELEPHONE: 212-639-5300 SHIROYAMA JT MORI BUILDING, ISTH FLOOR TELEPHONE:202-973-0600 FACSIMILE: 212-839-5599 3-1,TORANOMON 4-CHOME,MINATO-KU FACSIMILE 202-223-0465 TOKYO 105,JAPAN TELEPHONE:03.5472-6360 10900 WILSHIRE BOULEVARD FACSIMILE 03-5472-5056 LOS ANGELES,CA.90024.3959 TELEPMONE:310.443-0200 SUITE 2606,ASIA PACIFIC FINANCE TOWER FACSIMILE:310-206.5740 CITIBANK PLAZA 3 GARDEN ROAD,CENTRAL 172 WEST STATE STREET HONG KONG TRENTON, N.J. 08606-1104 TELEPHONE:S52-509-7666 7 ELEPMONE:609 393-0303 FACSIMILE:652-509-3110 FACSIMILE:609-393-1990 August 15, 1994 Mr. Kenneth T. Chavious Finance Director County of Orange 208 South Cameron Street Hillsborough, North Carolina 27278 Re: County of Orange, North Carolina $5 , 000, 000 Farmland Preservation Bonds Dear Ken: In accordance with our schedule, I am enclosing the following items relating to the authorization of the bonds described above: 1. Five copies of a suggested form of proceedings to be taken by the Board of Commissioners for the County at a regular meeting to be held on August 23 , evidencing the introduction and passage on first reading of the order authorizing the bonds and the call of a public hearing upon such order. 2 . Five copies of a suggested form of sworn statement of debt to be made by you as Finance Director, verified on August 23 , the day of the Board of Commissioners ' meeting, and filed with the Clerk to the Board of Commissioners, in the presence of the Board of Commissioners, after the introduction but prior to the passage of the bond order on first reading. �I 3 3 . A copy of the bond order with appended statement giving notice of the public hearing for handing to the Chapel Hill Herald and The News of Orange County for publication on September 14 , after all blanks have been filled to correspond with the figures set forth in the debt statement, and an extra copy of such order for proofreading the text thereof after type has been set put prior to actual publication. 4 . A copy of a suggested form of the bond question for handing to the printer who will prepare the ballot strips or other forms of ballot to be used at the referendum and an extra copy of such form for proofreading the text thereof prior to printing. I wish to suggest that you request the County Board of Elections to review this item first before using it. After the enclosed proceedings and sworn statement mentioned above have been taken or executed, please provide me with two certified or executed copies thereof. After the bond order has bene published, please provide me with two publisher' s affidavits, with printed clippings attached, to evidence each such publication. Also, please provide me with six specimens of each form of the ballots to be used at the referendum after they have been prepared. One copy of each item should also be sent to Ms. Janice Burke of the Local Government Commission. If you have any questions, please call me. Sincerely yours, Gundars Aperans Enclosure cc: Ms. Janice Burke I 4 A regular meeting of the Board of Commissioners for the County of Orange, North Carolina, was held at the OWASA Meeting Room on Jones Ferry Road, in Carrboro, North Carolina, the regular place of meeting, at 7: 30 P.M. , on August 23 , 1994 . Present: Chairman Moses Cary, Jr. , presiding, and Commissioners Absent: Also present: Kenneth T. Chavious, Finance Director, and Beverly A. Blythe, Clerk to the Board of Commissioners. Commissioner introduced the following order authorizing bonds which was read: ORDER AUTHORIZING $5, 000, 000 FARMLAND PRESERVATION BONDS BE IT ORDERED by the Board of Commissioners for the County of Orange: 1. That, pursuant to The Local Government Bond Act, as amended, the County of Orange, North Carolina, is hereby authorized to contract a debt, in addition to any and all other debt which said County may now or hereafter have power or authority to contract, and in evidence thereof to issue Farmland Preservation Bonds in an aggregate principal amount not exceeding $5, 000, 000 for the purpose of providing funds, with any other available funds, for implementing a program of farmland preservation in said County, including the acquisition by purchase, lease or otherwise of land 1 ' S or any interests therein (including development rights) to maintain, protect, limit the future use of or otherwise conserve open spaces and open areas constituting farmland. 2 . That taxes shall be levied in an amount sufficient to pay the principal of and the interest on said bonds. 3 . That a sworn statement of the debt of said County has been filed with the Clerk to the Board of Commissioners for said County and is open to public inspection. 4 . That this order shall take effect when approved by the voters of said County at a referendum as provided in The Local Government Bond Act, as amended. The Board of Commissioners thereupon designated the Finance Director as the officer whose duty it shall be to make and file with the Clerk to the Board of Commissioners the sworn statement of debt of the County which is required by The Local Government Bond Act, as amended, to be filed after the bond order has been introduced and before the public hearing thereon. Thereupon the Finance Director filed with the Clerk to the Board of Commissioners, in the presence of the Board of Commissioners, the sworn statement of debt as so required. Thereupon the order entitled: "ORDER AUTHORIZING $5, 000, 000 FARMLAND PRESERVATION BONDS" was passed on first reading. on motion duly made, seconded and unanimously carried, the Board of Commissioners fixed 9: 00 A.M. on September 6, 1994, at the Northern Human Services Center, in Hillsborough, North Carolina, as the hour, day and place for the public hearing upon the foregoing 2 f l 6 ' order and directed the Clerk to the Board of Commissioners to publish said order, together with the appended statement as required by The Local Government Bond Act, as amended, once in the Chapel Hill Newspaper and once in The News ' of Orange County not later than the sixth day before said date. I, Beverly A. Blythe, Clerk to the Board of Commissioners for the County of Orange, North Carolina, DO HEREBY CERTIFY that the foregoing is a true copy of so much of the proceedings of said Board at a regular meeting held on August 23, 1994 as relates in any way to the introduction and passage on first reading of an order authorizing bonds of said County and the calling of a public hearing upon such order and that said proceedings are recorded in Minute Book No. of the minutes of said Board, beginning on page and ending on page I DO HEREBY FURTHER CERTIFY that a schedule of regular meetings of said Board, in the form attached hereto, has been on file in my office as of a date not less than seven days before the date of said meeting in accordance with G.S. §143-318. 12 . WITNESS my hand and the corporate seal of said County, this day of August 1994. Clerk to the Board of Commissioners 3 COUNTY OF ORANGE, NORTH CAROLINA SWORN STATEMENT OF DEBT MADE PURSUANT TO THE LOCAL GOVERNMENT BOND ACT, AS AMENDED I, Kenneth T. Chavious, Finance Director of the County of Orange, North Carolina, having been designated by the Board of Commissioners for said County to make and file with the Clerk to the Board of Commissioners a statement of the debt of said County pursuant to The Local Government Bond Act, as amended, DO HEREBY I CERTIFY that the following is a true statement as shown by the books in my office, not taking into consideration any debt incurred or to be incurred in anticipation of the collection of taxes or other revenues or in anticipation of the sale of bonds other than funding and refunding bonds: I (a) GROSS DEBT A(1) Outstanding debt evidenced by bonds: Public Building Bonds . . . . . . . . $26,545,000 Refunding Bonds . . . . . . . . . . . . • • 53, 150 000 School Bonds . . . . . . . . . . . . . . . . . Other bonds . . . . . . . . . . . . . . . . . . $79:695 X000. a(2) Bonds authorized by an order introduced on August 23, 1994, but not yet adopted: Farmland Preservation Bonds . . . . . . . . . . . . . $5, 000, 000 a(3) Unissued bonds authorized by adopted orders: Water Bonds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1, 000, 000 a(4) Outstanding debt, not evidenced bybonds: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $. .428,274. _ III i I I l 8 (a) GROSS DEBT, being the sum of a(1) , a(2) , a(3) and a(4) . . . . . . . . . . . . . . . . . . . . . $ 86:123?274 (B) DEDUCTIONS b(1) Funding and refunding bonds authorized by orders introduced but not yet adopted . . . . . . . . . . . . . . . . . . . . . $ -0- b(2) Funding and refunding bonds authorized but not yet issued . . . . . . . . . . . $ -0- b(3) The amount of money held in sinking funds or otherwise for the payment of any part of the principal of gross debt other than debt incurred for water purposes or sanitary sewer purposes (to the extent that the bonds are deductible under G.S. §159-55 (b) ) . . . . . . . $. . .. .. . . . b(4) Bonded debt included in gross debt and incurred, or to be incurred, for water purposes . . . . . . . . . . . . . . . . . . . . . . $1, 000, 000 b(5) Bonded debt included in gross debt and incurred, or to be incurred, for sanitary sewer system purposes to the extent that said debt is made deductible by G.S. §159-55 (b) . . . . . . . . . . . $ -0- b(6) Uncollected special assessments heretofore levied for local improvements for which any part of the gross debt (that is not otherwise deducted) was or is to be incurred to the extent that such assessments will be applied, when collected, to the payment of any part of the gross debt . . . . . . . . . . . . . . $. . .. .. . . . . b(7) The amount, as estimated by the Finance Director, of special assessments to be levied for local improvements for which any part of the gross debt (that is not otherwise deducted) was or is to be incurred, to the extent that the special assessments, when collected, will be applied to the payment of any pat of the gross debt . . . . . . . . . . . . . . $. . . .. . . . . 2 9 (b) DEDUCTIONS, being the sum of b(1) , b(2) , b(3) , b(4) , b(5) , b(6) and b(7) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $. . .:0.-. . . . (c) NET DEBT (c) NET DEBT, being the difference between the GROSS DEBT (a) and the DEDUCTIONS (b) . . . . . . . . . . . . . . . . . . . . . . . $85 123.,274 (d) APPRAISED VALUE (d) APPRAISED VALUE of property subject to municipal taxation before the application any ratio. • . • • . • $4;530, 149.565 (e) Percentage which the NET DEBT (c) bears to the APPRAISED VALUE (d) . . . . . . . . . 1 . 88 0 The foregoing statement is true. III Finance Director of the County of Orange, North Carolina STATE OF NORTH CAROLINA ) ) ss. . COUNTY OF ORANGE ) Subscribed and sworn to before me this 23rd day of August 1994. Notary Public My commission expires 3 10 , I, Beverly A. Blythe, Clerk to the Board of Commissioners for the County of Orange, North Carolina, DO HEREBY CERTIFY that the foregoing is a true copy of a statement which was filed with me at a meeting of the Board of Commissioners for said County held on August 23 , 1994, after the introduction and before the public hearing on an order authorizing bonds of said County, and that said statement is open to public inspection in my office. WITNESS my hand and the corporate seal of said County, this day of August 1994 . Clerk to the Board of Commissioners 4 � 11 TO THE PUBLISHER OF THE NEWS OF ORANGE COUNTY: Please publish the following by September 14, after all blanks have been filled. ORDER AUTHORIZING $5, 000, 000 FARMLAND PRESERVATION BONDS BE IT ORDERED by the Board of Commissioners for the County of Orange: 1. That, pursuant to The Local Government Bond Act, as amended, the County of Orange, North Carolina, is hereby authorized to contract a debt, in addition to any and all other debt which said County may now or hereafter have power or authority to contract, and in evidence thereof to issue Farmland Preservation Bonds in an aggregate principal amount not exceeding $5, 000, 000 for the purpose of providing funds, with any other available funds, for implementing a program of farmland preservation in said County, including the acquisition by purchase, lease or otherwise of land or any interests therein (including development rights) to maintain, protect, limit the future use of or otherwise conserve open spaces and open areas constituting farmland. 2 . That taxes shall be levied in an amount sufficient to pay the principal of and the interest on said bonds. 3 . That a sworn statement of the debt of said County has been filed with the Clerk to the Board of Commissioners for said County and is open to public inspection. 4. That this order shall take effect when approved by the voters of said County at a referendum as provided in The Local Government Bond Act, as amended. The foregoing order has been introduced and a sworn statement t 12 I of debt has been filed under the Local Government Bond Act showing the appraised value of the County of Orange to be $4,530, 149,565 and the net debt thereof, including the proposed bonds, to be $85, 123,274 A tax will be levied to pay the principal of and interest on the bonds if they are issued. Anyone who wishes to be heard on the questions of the validity of the bond order and the advisability of issuing the bonds may appear at a public hearing or an adjournment thereof to be held at 7 : 30 P.M. on September 6, 1994 at the Northern Human Services Center, in Hillsborough, North Carolina. Beverly A. Blythe Clerk to the Board of Commissioners for the County of Orange, North Carolina t 13 TO THE PUBLISHER OF THE CHAPEL HILL HERALD: Please publish the following by September 14, after all blanks have been filled. ORDER AUTHORIZING $5, 000, 000 FARMLAND PRESERVATION BONDS BE IT ORDERED by the Board of Commissioners for the County of Orange: 1. That, pursuant to The Local Government Bond Act, as amended, the County of Orange, North Carolina, is hereby authorized to contract a debt, in addition to any and all other debt which said County may now or hereafter have power or authority to contract, and in evidence thereof to issue Farmland Preservation Bonds in an aggregate principal amount not exceeding $5, 000, 000 for the purpose of providing funds, with any other available funds, for implementing a program of farmland preservation in said County, including the acquisition by purchase, lease or otherwise of land or any interests therein (including development rights) to maintain, protect, limit the future use of or otherwise conserve open spaces and open areas constituting farmland. 2 . That taxes shall be levied in an amount sufficient to pay the principal of and the interest on said bonds. 3 . That a sworn statement of the debt of said County has been filed with the Clerk to the Board of Commissioners for said County and is open to public inspection. 4. That this order shall take effect when approved by the voters of said County at a referendum as provided in The Local Government Bond Act, as amended. The foregoing order has been introduced and a sworn statement illy 14 ; of debt has been filed under the Local Government Bond Act showing the appraised value of the County of Orange to be $4,530, 149,565 and the net debt thereof, including the proposed bonds, to be $85, 123,274 A tax will be levied to pay the principal of and interest on the bonds if they are issued. Anyone who wishes to be heard on the questions of the validity of the bond order and - the advisability of issuing the bonds may appear at a public hearing or an adjournment thereof to be held at 7 : 30 P.M. on September 6, 1994 at the Northern Human Services Center, in Hillsborough, North Carolina. Beverly A. Blythe Clerk to the Board of Commissioners for the County of Orange, North Carolina a ' 15 (Suggested Form of Bond Question for Referendum] Shall the order adopted on September 6, 1994, authorizing an amount not exceeding $5,000, 000 Farmland Preservation Bonds of the County of Orange, North Carolina, for providing funds, with any other available funds, for implementing a program of farmland preservation in said County, including the acquisition by purchase, lease or otherwise of land or any interests therein (including development rights) to maintain, protect, limit the future use of or otherwise conserve open spaces and open areas constituting farmland, and authorizing the levy of taxes in an amount sufficient to pay the principal of and the interest on said bonds, be approved?