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HomeMy WebLinkAboutRES-2016-022 Resolution setting public hearing and authorizing filing of debt statement Ph F 3-as- Rb/49 RES-2016-022 76 Resolution setting public hearing and authorizing filing of debt statement WHEREAS, there have been introduced at this meeting bond orders entitled as follows: BOND ORDER AUTHORIZING THE ISSUANCE OF ORANGE COUNTY GENERAL OBLIGATION SCHOOL BONDS IN THE MAXIMUM AMOUNT OF $120,000,000, SUBJECT TO VOTER APPROVAL BOND ORDER AUTHORIZING THE ISSUANCE OF ORANGE COUNTY GENERAL OBLIGATION BONDS FOR HOUSING FOR PERSONS OF LOW AND MODERATE INCOME IN THE MAXIMUM AMOUNT OF $5,000,000, SUBJECT TO VOTER APPROVAL AND WHEREAS, Section 159-57 of the General Statutes requires that a public hearing be held on each bond order prior to its adoption, Section 159-56 of the General Statutes requires publication of a notice of the hearing, and Section 159-55 of the General Statutes requires the filing of a statement of the County's debt with the Clerk to the Board prior to the public hearing; BE IT THEREFORE RESOLVED by the Board of Commissioners of Orange County, North Carolina, (1) that a public hearing on each bond order will be held at 7:00 p.m. (or as soon thereafter as the matter may be heard) on April 19, 2016, in the Board's regular meeting room in the County's Southern Human Services Center, 2501 Homestead Road, Chapel Hill, North Carolina, and (2) that the Clerk to this Board is directed to publish a notice of each public hearing, in the form provided for in Section 159-56 of the General Statutes, one time, not less than six days prior to the hearing date, in a newspaper having general circulation in the County; AND BE IT FURTHER RESOLVED that the County's Finance Officer is directed to prepare and file, prior to the publication of the notice of public hearing, a sworn statement of the County's net debt in the form prescribed by statute. NOW THEREFORE BE IT ORDAINED by the Board of Orange County Commissioners that this resolution is effective upon approval. Upon motion of Commissioner c L seconded by ommissioner &- e foregoing resolution was ad pted this the day of 16. I, Donna S. Baker, lerk to the Board of Commissioners for the County of Orange, North Carolina, DO HEREBY CERTIFY that the fore ing is a true copy of so much of the proceedings of said Board at a meeting held on -v , 2016, as relates in any way to the adoption of the foregoing and that said proceedings are recorded in Minute Book No. of the minutes of said Board WITNESS my hand and the seal of said County, the _day of , 2016. Donna S. Baker Clerk to the Board S A # 17 52 off¢ gat����� BOND ORDER AUTHORIZING THE ISSUANCE OF ORANGE COUNTY GENERAL OBLIGATION BONDS FOR HOUSING FOR PERSONS OF LOW AND MODERATE INCOME IN THE MAXIMUM AMOUNT OF $S,000,000, SUBJECT TO VOTER APPROVAL WHEREAS -- The Board of Commissioners of Orange County, North Carolina has stated its proposal to issue general obligation bonds to pay capital costs of providing housing for persons of low and moderate income. The County has applied to the North Carolina Local Government Commission for its approval of such bonds, and the Commission has accepted the County's application. BE IT ORDERED by the Board of Commissioners of Orange County, North Carolina, as follows: 1. There are hereby ordered to be issued general obligation bonds of the County to pay capital costs of providing housing for persons of low and moderate income, together with related financing and other necessary or incidental costs. 2. The maximum aggregate principal amount of the bonds issued for such purpose will be $5,000,000. 3. Taxes will be levied in an amount sufficient to pay the principal of and interest on the bonds so issued. 4. A sworn statement of debt prepared by the County's Finance Officer has been filed with the Clerk to this Board and is open to public inspection. 5. This Bond Order will take effect when approved by the County's voters in the manner provided by law. Proposed bond orders for introduction BOND ORDER AUTHORIZING THE ISSUANCE OF ORANGE COUNTY GENERAL OBLIGATION SCHOOL BONDS IN THE MAXIMUM AMOUNT OF $120,000,000, SUBJECT TO VOTER APPROVAL WHEREAS -- The Board of Commissioners of Orange County, North Carolina, has stated its proposal to issue general obligation bonds to pay capital costs of providing school facilities. The County has applied to the North Carolina Local Government Commission for its approval of such bonds, and the Commission has accepted the County's application. BE IT ORDERED by the Board of Commissioners of Orange County, North Carolina, as follows: 1. There are hereby ordered to be issued general obligation school bonds of the County to pay capital costs of providing school facilities, together with related financing and other necessary or incidental costs. 2. The maximum aggregate principal amount of the bonds issued for such purpose will be $120,000,000. 3. Taxes will be levied in an amount sufficient to pay the principal of and interest on the bonds so issued. 4. A sworn statement of debt prepared by the County's Finance Officer has been filed with the Clerk to this Board and is open to public inspection. 5. This Bond Order will take effect when approved by the County's voters in the manner provided by law.