HomeMy WebLinkAboutRES-2025-027-Resolution to approve lease purchase agreement RES-2025 - 0271 �- 1 V J31� �
RESOLUTION
ORANGE COUNTY BOARD OF COMMISSIONERS
Orange COUNTY, NORTH CAROLINA
WHEREAS , the Orange County Board of Education wishes to enter into a continuing
contract for capital outlay under N . C . Gen . Stat . § 115C- 528 with American Capital Financial
Services , Inc . , for the purchase and financing of certain computer hardware , software , and
related equipment to be used for public school purposes ; and
WHEREAS , the contract will require the Orange County Board of Education to pay
American Capital Financial Services , Inc . , a total of one million , nine hundred and one thousand ,
six hundred fifty eight dollars and eighty-eight cents ( $ 1 , 901 , 658 . 88 ) over the 2026 , 2027 ) 2028 )
and 2029 fiscal years ; and
WHEREAS , the contract may be a continuing contract for capital outlay subject to the
provisions of N . C . Gen . Stat . § § 115C .441 (c1 ) and 115C -528 , including the approval of the
Orange County Board of Commissioners .
NOW, THEREFORE , BE IT HEREBY RESOLVED , that the Orange County Board of
Commissioners agrees to appropriate sufficient funds to the Orange County Board of Education
in ensuing fiscal years to meet the contract obligations with American Capital Financial Services ,
Inc . so long as the amount the Orange County Board of Education shall be obligated to pay
under that contract shall not exceed the amounts recited above . Said funds shall be a part of,
and not in addition to , regular appropriations made to the Orange County Board of Education .
Said funds obligated by this contract for fiscal years 2026 , 2027 , 2028 , and 2029 shall be
budgeted by the Orange County Board of Education for this purpose and the Orange County
Board of Commissioners shall not be obligated to increase its annual appropriation to the Orange
County Board of Education by the amount due under this contract with American Capital
Financial Services , Inc .
Resolved , this � day of 2025 by the Orange County Board of
Commissioners .
Jamez a Bed ord , Chair
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