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Home My WebLink AboutAgenda - 09-04-2001-9cORANGE COUNTY BOARD OF COMMISSIONERS ACTION AGENDA ITEM ABSTRACT Meeting Dale: September 4, 2001 ' Actlon Agenda Item NO. g-L SUBJECT: Atloptlon of Bontl Oders Ballot Question and Referentlum Date DEPARTMENT: Finance PUBLIC NEARING: (Y/N) No ATTACHMENT(S): INFORMATION CONTACT: Bontl Oders Ken Chavipus, 245-2453 Resolution TELEPHONE NUM8ER5: Hillsborough T32A181 Chapel HIII 9684501 Durham 686]331 Mebane 33622]-2031 PURPOSE: To wnsider edopfion of[he Bontl Oders antl to formally utihe ballot question and referendum date as requietl by the Local Govemmenl Bontl Ad antl in aarntlance with the time table established for the proposetl November 6, 2001 bontl referentlum. BACKGROUND: On August 14, 2001, the Bond Oders required for the proposed November 6, 2001 bontl referendum were inirotlucetl by the BoeN. At that time, the tla[e for the required public hearing on the Bontl OMere was also established. The public hearing took place on Augua[ 2T, 2001. All of the actions requiretl by the Local Government Bontl Ac[ have occurred in accortlance wN1 the Boartl's establishetl timetable. The requirements of the Bond Act state that after the hearing, the BoeN needs to adopt the Bontl Oders antl fprnally set the ballot question and the data forthe referendum. Atloption of [he Bond Oders confirms the final amounts of the propoaetl bontls that will go before fhe vMers. The ballot questions antl [he date of the referentlum are formally set by adoption of a resolution wmaining [he language necessary for wmpliance with the statutes. Once atloptetl, the CIeB to [he Boartl must sentl a copy oRhe resolution to the County Boats of Elections wtthin three tlays. As soon as possible after etlop[ion, the Cleda must also publish the Bond Orders. Thefour Bontl Oders for adoption are attached, antl the formats remain unchanged tromthe August 14 inirotluction. The required resolution, setting frdh the balbt queatione antl referentlum date Is also attachetl. All tlocumenta have been prepared by Bond Counsel Bob Jessup, who will be available [o answer any further questions regarding the legal proceedings. FINANCIAL IMPACT: There is no immetliate financial impact associated wiN this action. RECOMMENDATION(S): The Manager rewmmenda that the BOartl atlopt the Bond Ortlers thereby establishing the final amount for the referentlum, antl atlopt the resolution formally sehing the bontl queetbns and the referentlum tlate. z Four Band Orders for Adoolion Z. Srhod Rands -$47.000.000 BOND ORDEA AUTHORIZING THE ISSUANCE OF GENERAL OBLIGATION SCHOOL BONIhS IN THE MAXNIUM AMOUNT OF $47,000,000 WHEREAS -- The Boatd of Commissioners of Orange County, North Cazolina, by resolution adopted on Lune 25, 2001, hae stated its pmpoeal to issue general obligation bonds to pay capital costs of providing scMOl facilities. The Cowry has applied [o the North Caolina Local Crovemmem Commission for its approval of such bonds, and the Commission has accepted the Comty's application. BE IT ORDERED by ffie Board ofLommissioners of Orange Comty, North Carolina, as follows: 1. There are hereby ordered m be issued general obligation bonds of [he County [o pay capital costs of providing school facilities, together with related tmancing antl aher necessary or incidental costs. 2. The maximum aggregate principal amourd of the bonds issued for such purpose will be $47,000,000. 3. Taxes will be levied m an amount sufhciemm pay [he principal of and interest on the bonds so issued. 4. A swam statement of detit prepazed by the County's Finance Officer has been filed with dre Clerk m this Board earl is open m public inspectlon. BONDORDADOPTATT090a 3 5. Tlds Bond Order will take effect when approved by Ne Cowty's voters in the manner provided by law. BONDOR-AOOPTAI"f11904 d. Bnnds for Parks Recreafiott and Oaen Saace -- %20 000.000 BOND ORDER AUTHORi7.ING THR ISSYIANCR OF GENERAL OBLIGATION BONDS FOR PARRS, RECREATION AND OPEN SPACE IN TBE MAXD11UbI AMOUNT OF $20,000,000 WI~REAS The Board of Commissiwere of Orange County, NoNr CaroBna, by resolutiw adopted on du¢e 25, 2001, has stated its proposal m issue gweral obligation bolls m pay capita costs of providing parks, recreation all open space. The County has applied m the North Caro7iru Local Government Commission for its approval of such bonds, all the Commission has accepted the Cowty's application. BE Ff ORDERED by the Board of Commissioners of Orange County, Notth CatoWu, as follows. 1. There are hereby ordered m be issued general obligation bonds of the Cowry m pay capita costs of providing parks, open space and rerseational facilities, together wiN related financing and other necessary or incidental costs. 2. The maximum aggregate principal amowt of Ne bonds issued for such purpose will be $20,000,000. 3. Taxes will be levied in w amowt sufOcient tc pay the principal of and imerest on [he bonds so issued. 4. A sworn statement of debt prepared by the County's Finwce Officer has bee¢ filed with the Clerk to this Board and is open m public inspecfion. 5. This Boll Order wdl fake effect when approved by [Iu• Cowty's voters in the mower provided by law. BONDO1dJADDPfATT0904 3. Bonds far Senior Centers -- 54.000 000 BOND ORDER AUTHORIZING THE LSSl1ANCE OF GENERAL OBLIGATION BONDS FOA SENIOR CENTERS IN THE MAAh1I1M AMOUNT OF $4,000,000 WHEREAS - The Bcazd of Commissioners of Orange County, Noah Carolina, by resolutlon adopted on Jme 25,2001, has stated its proposal to issue general obligation bonds m pay capital costs of providing senior centers. The County has applied to the North Cazo]ina Local Croverranent Conunission for its approval of such bonds, and the Commission has accepted the Cmnty's application. BE TT ORDERED by the Boazd of Commissioners of Orange Comfy, North Cazolina, as follows: L There aze hereby ordered w be issued general obligation bonds of the Comfy m pay capitol costs of providing senior centers, together with related financing'and other necessary or incidevml costs. This purpose includes, but is not limited to, acquhing land (or interests m land) and other property, constructing or improving bu0dwgs a¢d paying other vests related m providing multipurpose fac0ides far meetingsand activities designed to address needs of the Couray's senior populado¢. 2. The maximum aggregate principal amomt of the bonds issued for smh purpose will be $4,000;000. 3. Taxes will be levied m m AmM of sufficient to pay the principal of and interest on the bands so issued. 4. A sworn statement of debt prepared by Ore County's Finmce Officer has been filed with [he Clerk to this Board and ie open m public iaspection. 5. This Bond Order will take effect when approved by the County's voters m Ote roamer provided by law. nOM10RDADOPTATT0904 4. Low and Madeerme Income Housinj Bonds -- 54.000.000 BOND ORDER AUTHORIZRVG T~ ISSUANCE OF GENERAL OBLIGATION LOW AND MODERATE INCOME ROUSING BONDS IN THE MARNIUM AMOUNT OF $1,000,000 WHEREAS-- The Board of Commissioners of Orange County, North Carolina, by resolution adopted on lone 25, 2001, has stated its proposal ro issue general obligadoo bontls ro pay capital costs of providing housing for me beuefit of persons of low and moderate income. The Courtly has applied ro the North Carolina Local Government Commission for its approval of such bonds, and [he Commission has accepted the County's application. BE TT ORDERED by the Boats of Commissioners oFOmnge County, NoM Carolina, as follows: 1. There are hereby ordered td be issued general obliga4on bonds of Ne County ro pay capita casts of providing housing far the benefit of persons of low and moderate income, together with related fmaucing ant other necessary or VlCldental COS45. 2. The maximmn aggregate principal amowt of the bonds issued fur such purpose wiB he $4,000,000. 3. Taxes will be levied in an amount sufficient ro pay the Drincipal of and. interest on Ore bonds so issued. 4. A sworn statement of debt prepared by the County's Finance Officer has been filed wiN the Clerk to this BoaN and is open to public inspection. 5. This Hots Order will take effect when approved by the Coumy's votesa in the mamu;r provided by law. BONDORDADO]'TATI'0'XW Resolution regarding pub0eadon of Bond Orden, estahlishine date for referenda antl setting ba0ot aues0ona WHEREAS, there have been adopted a[ this meeting bond orders entitled as follows: BOND ORDER AUTIIORiZING THE ISSUANCE OF GENERAL OBLIGATION SCHOOL BONDS IN THE MAXBHUIII AMOUNT OF $47,000,000 BOND ORDER AUTHORIZING THE ISSUANCE OF GENERAL OBLIGATION BONDS FOR PARKS, RECREATION AND OPEN SPACE IN THE MAXINIUNI AMOUNT OF $20,000,000 BOND ORDER AUTHORIZING THE ISSUANCE OF GENERAL OBLIGATION BONDS FOR SENIOR CENTERS IN THE MAXIMUM AMOUNT OF $4,000,000 BOND ORDER AUTHORIZING THE ISSUANCE OF GENERAL OBLIGATION LOW AND MODERATE INCOME HOUSING BONDS IN THE MAXIMUM AMOUNT OF $4,000,000 AND WHEREAS, such Bond OMers aze ro take effect when approved by the voters; AND WHEREAS, tue General Sgm[es requae certain additional actions ro complete the prceess of authorizing Ne bonds and the bontl referenda; BE TT THEREFORE RESOLVED by the Boazd of Commiesianers of Orange Counry, North Carolina, that the Clerk to this Board is hereby authorized and dirxted to publish a notice of the adoption of such Bond Orders, m the form provided for m Section 159-58 of the General Statutes, one time ID a newspaper having generel circulation in the County; AND BE IT FURTHER RESOLVED that each Bond Order be subject ro a bond referendum to beheld within the Counry an November 6, 2001; aONDORDADOPfATT0904 g AND BE IT FURTHER RESOLVED that the Clerk to this Board is authorized and d'vected ro tt'arismit a certified copy of this resolution to Ne Orange County Board of Elections within three days after triday; AND BH IT FURTHER RESOLVED that the Clerk to this Boazd is autMrized ant directed to publish mice of such band referenda as required by Section 159fi1 of the General Statutes; AND BE IT FUATBb31 RESOLVED that the respective balla questions shall be tu the following forms: Shall the order authoring up to $47,000,000 of Orange County general obligation bonds to pay capital casts of providing school faci]ides and paying related costs, as adopted by the Cwnty's Boazd of Commissioners on September 4, 2001, be approved? ORANGE COUNTY BONDS FOR PARKS, Shall the order authorizing up to $20,000,000 of Orange County general obligation bonds m pay capital costs of providmg parka, oprn space and recreational facilities and paying related roars, as adopted by the Counry's Board of Commissioners on September 4, 2001, be approved? O O Shall the order authorizing up m $4,000,000 of Orange County general obBgatton bonds to pay capital costs of providing senior cemers ant paying related costs, as atlopted by the Cotmry's BoaN of Commissioners on September 4, 2001, be approved? eONOOROADOPTATlY1904 ORANGE COUNTY BONDS FOR IqW AND MODERATE INCOME HORSING Shall the oxder auWorizing up m $4,000,000 of Orange County genera[ obligaRon bonds m pay capital costs of providing housing fox the benefit of persons of low and moderate ivcome and paying related vests, v adopted by the County's Board of Commissioners on September 4, 2001, be approved? BONDORDADOI'fATT0906