HomeMy WebLinkAboutAgenda - 02-07-2017 - 6-f - Resolution Certifying and Approving the Results of the November 8, 2016 Bond Referenda 1
ORANGE COUNTY
BOARD OF COMMISSIONERS
ACTION AGENDA ITEM ABSTRACT
Meeting Date: February 7, 2017
Action Agenda
Item No. 6-f
SUBJECT: Resolution Certifying and Approving the Results of the November 8, 2016 Bond
Referenda
DEPARTMENT: Finance and Administrative
Services
ATTACHMENT(S): INFORMATION CONTACT:
Attachment 1. Resolution Gary Donaldson, 919-245-2453
Attachment 2. Notice for Publication Bob Jessup, 919-933-9891
PURPOSE: To certify and approve the General Obligation Bond election results from the
November 8, 2016 Bond referenda.
BACKGROUND: On November 8, 2016 Orange County voters approved $120 million in
General Obligation bonds to fund capital improvements for the Chapel-Hill Carrboro City
Schools and Orange County Schools and $5 million to fund capital improvements for providing
housing for persons of low and moderate income.
The election results are included in the attached resolution. The North Carolina statutes require
that the BOCC certify and approve the election results as a necessary step prior to the issuance
of General Obligation bonds. After the BOCC adopts the resolution (Attachment 1), the statutes
require the County to publish a notice of the results. Bond Counsel has provided the form of the
notice for publication (Attachment 2), and the Clerk and Finance & Administrative Services
Director will ensure publication following Board action.
FINANCIAL IMPACT: There is no financial impact associated with this item.
SOCIAL JUSTICE IMPACT: There is no Orange County Social Justice Goal associated with
this agenda item.
RECOMMENDATION(S): The Manager recommends the Board approve the Resolution.
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RES-2017-006 Attachment 1
Resolution Certifying and Approving Results of Bond Referenda
WHEREAS, the Orange County Board of Elections has certified the following
results of the bond referenda held in and for Orange County, North Carolina, on
November 8, 2016, as follows:
On the question, "Shall the order authorizing Orange County general
obligation bonds in the maximum amount of $120,000,000 plus interest to pay
capital costs of providing school facilities and paying related costs, and providing
that additional taxes may be levied in an amount sufficient to pay the principal of
and interest on the bonds, as adopted by the County's Board of Commissioners on
May 5, 2016, be approved?"
YES 58,789
NO 19,038
On the question, "Shall the order authorizing Orange County general
obligation bonds in the maximum amount of$5,000,000 plus interest to pay capital
costs of providing housing for persons of low and moderate income and paying
related costs, and providing that additional taxes may be levied in an amount
sufficient to pay the principal of and interest on the bonds, as adopted by the
County's Board of Commissioners on May 5, 2016, be approved?"
YES 51,176
NO 26,786
and it therefore appearing that a majority of voters voting in each referendum called
for such purposes have approved the issuance of such bonds,
BE IT THEREFORE RESOLVED by the Board of Commissioners of Orange
County, North Carolina, that the Board certifies and approves these results and
declares the issuance of all the bonds to be authorized; and,
BE IT FURTHER RESOLVED that the Clerk to this Board is directed to publish
promptly a statement of these results in the form prescribed by law.
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Attachment 2
STATEMENT OF RESULTS OF
ORANGE COUNTY BOND REFERENDA
The Orange County Board of Elections has certified the following results of
the bond referenda held in and for Orange County, North Carolina, on November 8,
2016, as follows:
On the question, "Shall the order authorizing Orange County general
obligation bonds in the maximum amount of $120,000,000 plus interest to pay
capital costs of providing school facilities and paying related costs, and providing
that additional taxes may be levied in an amount sufficient to pay the principal of
and interest on the bonds, as adopted by the County's Board of Commissioners on
May 5, 2016, be approved?"
YES 58,789
NO 19,038
On the question, "Shall the order authorizing Orange County general
obligation bonds in the maximum amount of$5,000,000 plus interest to pay capital
costs of providing housing for persons of low and moderate income and paying
related costs, and providing that additional taxes may be levied in an amount
sufficient to pay the principal of and interest on the bonds, as adopted by the
County's Board of Commissioners on May 5, 2016, be approved?"
YES 51,176
NO 26,786
The Orange County Board of Commissioners has certified and approved such
results and declared the issuance of such bonds to have been authorized.
Any action or proceeding challenging the regularity or validity of any of these
bond referenda must be begun within thirty days after , 2017, which is
the date of this publication.
By order of the Board of Commissioners.
Donna S. Baker
Clerk, Board of Commissioners
Orange County, North Carolina