HomeMy WebLinkAboutRES-2017-066 Resolution to Adjust the Bond Sale Amounts PAF -
RES-2017-066 lob
Resolution To Adjust the Bond Sale Amounts
WHEREAS--
On October 3, the Board of Commissioners approved the sale of general obligation bonds
for various purposes. Based on the results of construction bids for school projects and upon the
direction of the Local Government Commission, the County must reduce the amount of voter-
approved school bonds to be sold, from $40 million to $21 million. This resolution approves that
change.
BE IT THEREFORE RESOLVED by the Board of Commissioners of Orange
County, North Carolina, that the bonds to be sold pursuant to the October 3 resolution will be
(a) $21,000,000 of voter-approved school bonds, (b) $2,500,000 of voter-approved affordable
housing bonds, and (c) $5,900,000 of "two-thirds" school bonds. The Finance Officer may
approve a further change in the amount of any bonds to be sold, upon the advice of the LGC and
up to the amounts previously specified in the October 3 resolution. All other provisions of the
October 3 resolution are confirmed.
NOW THEREFORE BE IT ORDAINED by the Board of Orange County Commissioners
that this resolution is effective upon appro Upon motion of Commissioner
seconded by 41erk1to mis,�,,i�ne.r 'C/ , the foregoing resolution was
adopted thi the day of . ZQ17.
I, Donna S. Baker, the Board of Commissioners for the County of
Orange, North Carolina, DO HEREBY CERTIFY that the foreg . g is a true copy of so
much of the proceedings of said Board at a meeting held on , 2017,
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
2017.
Do n& S. Bak Sr
* Clerk to the Board
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