HomeMy WebLinkAboutAgenda - 05-03-1993 - VI-A ORANGE COUNTY 1
BOARD OF COMMISSIONERS
Action Agenda
Item No. V1 A
ACTION AGENDA ITEM ABSTRACT
Meeting Date: May 3 , 1993
SUBJECT: REFINANCING OF 1988 BONDS AND ADOPTION OF BOND ORDERS
DEPARTMENT: FINANCE PUBLIC HEARING YES: X NO:
ATTACHMENT(S) : INFORMATION CONTACT: Ken Chavious
Ext. 2450
To be submitted under separate cover TELEPHONE NUMBER-
Hillsborough - 732-8181
Chapel Hill - 968-4501
Mebane - 227-2031
Durham - 688-7331
PURPOSE: To conduct a Public Hearing to receive citizen comment on the
proposed refinancing of the bonds approved in the 1988 referendum
and adoption of related Bond Orders and Bond Sale Resolutions.
BACKGROUND: On April 20, 1993 the Bond Orders for the proposed refinancing
of the County's 1988 Bonds were introduced. Pursuant to the
Local Government Bond Act, and in accordance with the approved
refinancing time-table, a Public Hearing is required in order
to provide the opportunity for anyone who wishes to be heard
on the questions of the validity of the Bond Orders and the
advisability of refinancing the bonds.
Upon completion of the Public Hearing, adoption of the Bond
Orders and the Bond Sale Resolution is necessary in order to
conduct the sale, as scheduled, on May 18, 1993 . The
suggested format for these proceedings, as prepared by Bond
Counsel, is being submitted under separate cover.
RECOMMENDATION(S) : The Manager recommends that the Board conduct the
public hearing; adopt the Bond Order; and approve the
Bond Sale Resolution; and authorize the Clerk to meet
all publishing requirements as suggested by Bond
Counsel.