HomeMy WebLinkAboutAgenda - 09-13-2005-4i
ORANGE COUNTY
BOARD OF COMMISSIONERS
ACTION AGENDA ITEM ABSTRACT
Meeting Date: September 13, 2005
Action Agenda
Item No. 4
SUBJECT: Capital Funding Matters
DEPARTMENT: Manager /Budget/Finance PUBLIC HEARING: (Y /N) No
ATTACHMENT(S): INFORMATION CONTACT:
As noted in "Background" John Link or Rod Visser, 245 -2300
Donna Dean, 245 -2151
Ken Chavious, 245 -2453
PURPOSE: To review various topics related to the 2005 -15 Capital Investment Plan and
related policy and debt matters.
BACKGROUND: During 2005 -06 budget deliberations in June 2005, there were a number of
capital and debt related matters that were slated for further discussion during a fall 2005 work
session. Topics to be addressed as part of this agenda item are synopsized briefly below:
Revised Capital Funding Poliic
In May 2005, the Board formally approved an approach to implementation of the 60 -40 Capital
Funding Policy. This policy provides that 60 percent of capital funding for the next ten years will
go towards school capital projects with 40 percent going to County capital projects. The Board
reviewed, but had insufficient time during June budget work sessions to formally adopt, a
revised Capital Funding Policy that would lay out in narrative terms the 60-40 policy provisions,
while superseding the Board's existing 1998 Capital Funding Policy. The Board may wish to
consider formally adopting the draft revised policy provided as an attachment to this agenda
item.
The Board's deliberation should also consider the passage by the General Assembly in late
August 2005 of a North Carolina lottery bill. Preliminary estimates developed by the Association
of County Commissioners indicate that Orange County might expect to receive approximately
$2.6 million in funding for school construction or debt service during the first full year of lottery
operation. The Board may wish to review the accompanying information related to the lottery
bill, and to discuss any direction it may wish to provide to staff about how to factor lottery
proceeds into the calculations of school and County capital funding shares.
Attachment 4a — Proposed Capital Funding Policy
Attachment 4b — North Carolina Association of County Commissioners Update —
Estimated Lottery Proceeds for School Construction
As part of the operating budget reductions approved by the Board that reduced the tax rate
increase for FY 05 -06 from a recommended 9 cents to 6.5 cents, the Board decided to suspend
a portion of the funding that under the 60-40 capital funding policy would have been allocated
towards school and County capital, Specifically, the Board reduced the County's long -range
capital allocation for 2005 -06 by $1.188 million, the approximate equivalent of 1 cent on the
General Fund tax rate. The accompanying spreadsheets reflect recommended reductions to
individual projects from the CIP allocations to accomplish the necessary long -range capital
reductions.
Attachment 4c — 2005 -15 County Capital Investment Plan -
Comparison of Fiscal Year 2005 -06 Original Manager's Recommendation and Revised
Manager's Recommendation
Updated Debt Issuance Schedule
Since voter approval of the November 2001 general obligation bonds, staff have developed and
periodically updated a schedule reflecting planned timing of sales of those bonds, and issuance
of related alternative financing for those projects (or portions of projects) not funded by GO
bonds, Staff have used these Debt Issuance Schedules to work with the Local Government
Commission to arrange sale dates for bonds and alternative financing, as the LGC ultimately
must approve the timing of the issuance of debt for specific projects. The Debt Issuance
Schedules also help staff to forecast total annual principal and interest payments and to monitor
the County's anticipated annual debt load for compliance with the County's self - imposed
standard of limiting debt payments to no more than 15 percent of annual General Fund
Expenditures, The County most recently sold GO bonds in accordance with the debt schedule
on August 16, 2005. Staff plan to ask the LGC to arrange issuance of alternative financing for
various projects during Winter 2006.
Staff will review changes to the accompanying updated Debt Issuance Schedule from the most
recent version reviewed by the Board, and seeks the Board's endorsement of the attached
schedule, or direction regarding any desired changes.
Attachment 4d — Proposed Debt Issuance Schedule
As part of the .July 2004 bond sale, the County sold $4.2 million in net two- thirds debt reduction
bonds. The accompanying table reflects project allocations the Board has already approved
from that source of funding, as well as the Manager's recommendations for how the balance of
unallocated two- thirds bonds should be allocated among various priority County capital projects,
Attachment 4e — Table — Proposed Projects to Fund with 2004 Two - Thirds Net Debt
Bonds
FINANCIAL IMPACT: As noted in agenda materials and as will be discussed during staff
presentation of those materials.
RECOMMENDATION(S): The Manager recommends that the Board provide direction to the
Manager and staff on the capital matters described above, and specifically, endorse the
proposed Debt Issuance Schedule and Two- Thirds Net Debt Bond allocations.
DRAFT 3
UPDATED 062305
ORANGE COUNTY BOARD OF COMMISSIONERS
PROPOSED
CAPITAL FUNDING POLICY
Preamble
This capital funding policy is the product of extensive analysis and deliberation. It is
intended to reflect greater priority than there has been historically on providing funding for
County projects, with particular emphasis directed at enhanced upkeep of existing County
facilities. The policy reflects the implementation of the Board of Commissioners'
resolution of November 16, 2004 that the Board "does hereby adopt in principle a policy of
allocating a target of 60 percent of capital expenditures for school projects and 40 percent
of capital expenditures for county projects over the decade beginning in calendar year
2005" This policy continues the County's principle and historical practice of ensuring that
all School and County related debt service obligations are funded before any other School
or County capital funds are allocated for other purposes.
Planning Period
During each fiscal year, the Board of Commissioners shall adopt a ten year Capital
Investment Plan (CIP). The ten -year plan for long -range capital funding shall include
anticipated County capital expenditures costing $25,000 or more (excluding equipment)
and anticipated school capital expenditures costing $50,000 or more (excluding
equipment). Equipment costing $5,000 or more can be considered as part of the Capital
Investment Plan, but may also be considered for funding through recurring capital
appropriations. The first year of the adopted ten -year Capital Investment Plan shall be
incorporated into the next annual operating budget recommended by the County Manager.
County and School recurring capital needs will be identified and reviewed during each
annual operating budget cycle, and recurring capital appropriations will be approved by the
Board of Commissioners as an element of each annual Orange County Budget
Ordinance.
Sources of Funds
The County will allocate the following sources of funds for County and School debt service
and long -range and recurring capital:
• All proceeds from the Article 40 and Article 42 half -cent sales taxes.
(The North Carolina General Statutes require that 30 percent of the Article 40
(NCGS§ 105- 487(a)) and 60 percent of the Article 42 (NCGS§ 105- 502(a)) sales tax
revenue be earmarked for public school capital outlay as defined in NCGS§ 105 - 426(1)
or to retire any indebtedness incurred by the county for these purposes)
• School Construction Impact Fees for each school system.
• Public School Building Capital Fund annual allocations from the State of North
Carolina.
• The equivalent of the revenue estimated to be produced each fiscal year from 4 cents
on the countywide ad valorem tax rate.
(This 4 cent rate may, but need not, be adjusted with each quadrennial revaluation to
a "revenue neutral" earmarking)
II '
E
UPDATED 062305
Property tax revenue sufficient to pay all debt service on remaining 1988, 1992, 1997,
or 2001 bonds, or refinancings thereof, as well as alternative financing programmed in
the debt issuance schedule approved by the Board on May 5, 2004 and any
subsequent updates to that schedule as the Board may approve.
Debt Service
All County and School related debt service obligations will be funded prior to allocation of
programmed funding for any other capital purposes.
All proceeds from annual allocations of North Carolina Public School Building Capital
Funds will be earmarked explicitly to pay for eligible school debt service.
Orange County Schools impact fees will be earmarked explicitly to pay for debt service on
projects that involved the construction of new school space in the Orange County Schools
system. Chapel Hill - Carrboro City Schools impact fees will be earmarked explicitly to pay
for debt service on projects that involved the construction of new school space in the
Chapel Hill - Carrboro City Schools system.
Allocation
With the exception of the revenues earmarked for School and County recurring capital and
the Construction Management function, the net proceeds of all programmed revenue
sources after debt service obligations have been satisfied will be allocated on the basis of
60% to schools and 40% to the County.
Capital funding for each ten year capital planning period will be allocated between the two
school systems based on certified student membership as of November 15 each year.
Capital Project Ordinances — Form and Purpose
All funds allocated to capital projects are to be accounted for in a Capital Project Fund as
authorized by a Board of County Commissioner approved Capital Project Ordinance,
The Capital Project Ordinance will include a detailed break down of each major cost
category related to the project.
In accordance with the Board of County Commissioners November 2000 adopted "Policy
on Planning and Funding School Capital Projects ", whenever School capital project bids
are either higher or lower than originally projected, or any other factor affecting the project
budget occurs, the affected school system is expected to work with County Management
and Budget staff to present revised capital project ordinances for adoption by the Board of
Commissioners. The same expectations shall be applicable for changes to County Capital
project budgets.
Community Use of Schools
It is the intent of the Board of County Commissioners to evaluate each new proposed
school in both School Districts for joint community use opportunities, including, but not
limited to, park and recreation use.
Recurring Capital
As outlined in the "Sources of Funds" section of this policy, recurring capital funding for the
Schools and County will be based on the estimated proceeds of 4 cents on the annual
0
UPDATED 062305
General Fund property tax rate. The proceeds from 3 cents will be earmarked for schools,
with funds allocated to each school system for the next fiscal year based on each system's
respective share of the student membership as of November 15 immediately preceding
the next fiscal year. Proceeds from 1 cent on the tax rate will be earmarked for County
recurring capital needs.
With regard to County Equipment and Vehicle acquisitions accomplished through the use
of third party financing, the Board of County Commissioners will determine the source of
funding to repay the associated debt service at the point that the Board approves the
financing arrangement.
Construction Management Function
Beginning with the 2005 -06 fiscal year, the Board of Commissioners will appropriate
funding to establish a Construction Management function to oversee County and School
capital projects. In fiscal years 2005 -06 through 2007 -08, $100,000 will be allocated
annually to fund this function. The source of funding for the Construction Management
function will be split on a 60/40 basis with each school district sharing the schools portion
of funding (60 %) in accordance with certified student membership as of November 15
each year. Each entity's share of this function will be deducted from its share of long -
range capital funding prior to allocating capital funds.
Schools Adequate Public Facilities Ordinance
Orange County's Schools Adequate Public Facilities Ordinance ( SAPFO) and Memoranda
of Understanding (MOUs) between the County and its municipal and school partners
establish the machinery to assure that, to the extent possible, new development will take
place only when there are adequate public school facilities available, or planned, which will
accommodate such new development. The Board of County Commissioners is committed
to the principle that new school space documented as needed through the annual SAPFO
technical review process will be reflected in the next adopted CIP, and will be funded so
as to be constructed to be available before the relevant level of service threshold is
exceeded.
Rescission
This policy rescinds the Orange County Board of Commissioners Capital Funding Policy,
as originally approved on December 7, 1996 and as amended on February 3, 1998.
NCACC /1 Hr
ICZ�7ZS3GSI}i
Raleigh, NC 27602 -1488
Tel: (919) 715 -2893
Fax: (919) 733-1065
E -mail: ncacc@ncA c grg
NCACC E -News Updates
Sept. 1, 2005
Estimated lottery proceeds for school construction
Page I of 5
O
The NCACC Board of Directors considered the lottery issue at its Feb 23, 2005,
meeting and voted to support local option lotteries with a substantial portion of the
proceeds to be dedicated to local school construction We are pleased that the
General Assembly has recognized the need for additional school construction funding
- the Association's third highest legislative priority - and has pledged substantial lottery
proceeds for school capital projects Please note that the county allocation mechanism
was devised solely by the General Assembly
Please find below the distribution method for the lottery's net revenues and an
estimate of lottery proceeds for school construction by county. Our many thanks to the
General Assembly's fiscal research staff for providing these projections. Please note
that the projections are based on current effective tax rates and ADM counts.
Net revenues (after expenses and prizes) from lottery receipts distributed as follows:
1 5 percent to lottery reserve fund until fund reaches $50 million
2 Remaining net revenue distributed as follows:
0 50 percent to support early grade class size reduction (1:18) and
academic pre - kindergarten for at -risk 4 year olds
0 40 percent to Public School Building Capital Fund
o 10 percent to fund college and university scholarships
Public School Building Capital Fund lottery monies allocated as follows:
1 65 percent allocated to counties on an average daily membership (ADM) basis
2. 35 percent allocated to counties whose effective tax rate is greater than the
state average effective tax rate
o County effective tax rate = actual county tax rate x 3 -year weighted
average of county sales /assessment ratio
*Allocation mechanism devised solely by General Assembly.
Public School Building Capital Fund lottery monies to be used as follows:
1 School construction projects, including renovation and repair
2 School construction indebtedness incurred on or after Jan. 1, 2003
3 No county matching funds required
4 Funds cannot be used for school technology needs
Distribution of Projected Lottery Proceeds for School Construction
Method: 65 percent by ADM, 35 percent by ADM to counties with above State Avg
Effective Tax Rate
Total $161,500,000 $158,080,000 $174,860,000 $186,960,000 $196,320,000
little / /www.iicacc, org/e- iiewstipdates htrnI 9/9/2005
NCACC
Page 2 of 5
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Distribution:
County FY 2006 -07 FY 2007 -08 FY 2008 -09 FY 2009 -10 FY 2010 -11
Alamance $1,663,971 $1,628,734 $1,801,623 $1,926,292 $2,022,730
Alexander 442,361 432,994 478,955 512,098 537,736
Alleghany 118,351 115,845 128,142 137,009 143,868
Anson 648,387 634,656 702,024 750,603 788,181
Ashe 247,051 241,819 267,488 285,998 300,316
Avery 178,600 174,818 193,375 206,756 217,107
Beaufort 554,810 543,062 600,707 642,275 674,430
Bartle 496,864 486,342 537,967 575,193 603,990
Bladen 853,781 835,701 924,409 988,377 1,037,859
Brunswick 853,525 835,450 924,132 988,081 1,037,548
Buncombe 2,247,910 2,200,307 2,433,867 2,602,286 2,732,568
Burke 1,116,520 1,092,876 1,208,883 1,292,536 1,357,245
Cabarrus 2,146,575 2,101,118 2,324,150 2,484,977 2,609,385
Caldwell 998,475 977,331 1,081,073 1,155,882 1,213,750
Camden 265,647 260,022 287,623 307,526 322,922
Carteret 629,240 615,915 681,294 728,438 764,906
Caswell 256,709 251,273 277,945 297,179 312,056
Catawba 1,874,536 1,834,840 2,029,606 2,170,051 2,278,693
Chatham 574,357 562,194 621,870 664,903 698,190
Cherokee 281,238 275,282 304,503 325,574 341,874
Chowan 360,775 353,135 390,620 417,651 438,560
Clay 100,951 98,813 109,302 116,866 122,717
Cleveland 1,319,725 1,291,778 1,428,899 1,527,776 1,604,263
Columbus 1,433,900 1,403,536 1,552,519 1,659,951 1,743,055
Craven 1,120,046 1,096,327 1,212,701 1,296,618 1,361,532
Cumberland 7,772,032 7,607,447 8,414,969 8,997,269 9,447,710
Currituck 316,805 310,096 343,012 366,748 385,109
Dare 381,269 373,195 412,810 441,375 463,472
Davidson 1,945,286 1,904,092 2,106,209 2,251,955 2,364,697
Davie 490,499 480,112 531,075 567,825 596,252
Duplin 1,327,196 1,299,091 1,436,988 1,536,425 1,613,345
Durham 4,569,426 4,472,662 4,947,430 5,289,783 5,554,611
Edgecombe 1,130,113 1,106,181 1,223,601 1,308,272 1,373,770
Forsyth 7,277,097 7,122,994 7,879,091 8,424,310 8,846,066
Franklin 1,185,617 1,160,510 1,283,696 1,372,526 1,441,240
Gaston 4,759,238 4,658,454 5,152,943 5,509,518 5,785,347
Gates 289,392 283,264 313,332 335,014 351,786
Graham 94,206 92,211 101,999 109,057 114,517
Granville 1,291,134 1,263,792 1,397,942 1,494,677 1,569,507
Greene 470,448 460,485 509,365 544,612 571,878
Guilford 10,118,927 9,904,644 10,956,010 11,714,146 12,300,605
Halifax 1,363,111 1,334,245 1,475,873 1,578,001 1,657,002
Harnett 2,534,481 2,480,809 2,744,144 2,934,034 3,080,924
Haywood 604,405 591,605 654,404 699,687 734,716
http:// www .neacc.org/e- newsupdates.html 9/9/2005
NCACC Page 3 of 5
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Henderson
973,563
952,946
1,054,100
1,127,042
1,183,467
Hertford
524,467
513,361
567,854
607,148
637,545
Hoke
1,035,430
1,013,503
1,121,085
1,198,662
1,258,672
Hyde
96,612
94,567
104,605
111,843
117,442
Iredell
1,876,969
1,837,241
2,032,262
2,172,890
2,281,674
Jackson
279,935
274,007
303,092
324,066
340,290
Johnston
4,077,905
3,991,549
4,415,247
4,720,775
4,957,116
Jones
203,762
199,447
220,618
235,884
247,693
Lee
1,374,538
1,345,430
1,486,246
1,591,230
1,670,894
Lenoir
1,463,730
1,432,733
1,584,816
1,694,483
1,779,316
Lincoln
1,731,306
1,694,644
1,874,528
2,004,242
2,104,583
Macon
321,557
314,748
348,158
372,250
390,886
Madison
203,819
199,503
220,680
235,950
247,763
Martin
659,369
645,406
713,915
763,316
801,531
McDowell
502,533
491,892
544,105
581,756
610,882
Mecklenburg
18,250,398
17,863,919
19,760,152
21,127,520
22,185,252
Mitchell
176,377
172,642
190,968
204,183
214,405
Montgomery
345,933
338,607
374,550
400,468
420,517
Moore
922,666
903,127
998,993
1,068,121
1,121,596
Nash
2,718,356
2,660,791
2,943,230
3,146,897
3,304,444
New
Hanover
3,555,515
3,480,222
3,849,643
4,116,032
4,322,097
Northampton
471,190
461,211
510,169
545,471
572,780
Onslow
3,351,011
3,280,049
3,628,222
3,879,289
4,073,502
Orange
2,617,143
2,561,721
2,833,645
3,029,728
3,181,409
Pamlico
247,542
242,299
268,019
286,566
300,912
Pasquotank
886,875
868,094
960,242
1,026,689
1,078,089
Pender
558,260
546,438
604,442
646,268
678,623
Perquimans
131,152
128,375
142,002
151,828
159,429
Person
867,731
849,355
939,513
1,004,526
1,054,817
Pitt
3,263,452
3,194,343
3,533,419
3,777,925
3,967,064
Polk
189,408
185,397
205,077
219,268
230,245
Randolph
1,768,525
1,731,074
1,914,826
2,047,328
2,149,826
Richmond
1,228,210
1,202,200
1,329,812
1,421,833
1,493,016
Robeson
3,625,118
3,548,351
3,925,004
4,196,607
4,406,707
Rockingham
2,172,221
2,126,221
2,351,917
2,514,666
2,640,560
Rowan
3,083,732
3,018,429
3,338,832
3,569,873
3,748,596
Rutherford
767,828
751,568
831,346
888,873
933,374
Sampson
1,684,262
1,648,595
1,823,591
1,949,781
2,047,395
Scotland
1,009,459
988,082
1,092,966
1,168,597
1,227,102
Stanly
744,065
728,309
805,618
861,365
904,489
Stokes
560,023
548,164
606,350
648,309
680,766
Surry
1,767,369
1,729,943
1,913,574
2,045,990
2,148,421
Swain
138,281
135,353
149,720
160,081
168,095
Transylvania
294,805
288,562
319,193
341,281
358,366
Tyrrell
95,870
93,840
103,801
110,984
116,540
http://www,ncacc , oig /e- newsupdates.html 9/9/2005
NCACC
Aug. 23, 2005
Medicare Part D: Strategies for counties who are plan
sponsors
Do you cover active employees age 65 or older on your county health plan? How
about retirees age 65 and older? If you do, you might want to take advantage of tax -
free money payable to your county for providing these benefits. Below is what you
need to know:
One of the least talked about beneficiaries of the new Medicare Part D offering are the
health plan sponsors (counties) providing retiree prescription drug benefits or covering
active employees age 65 and older for their health care and medications, These
counties providing this coverage have a unique opportunity to reduce their future
retiree prescription drug liability by 20 percent or more as a result of government
subsidies offered under Medicare Part D provisions.
There are several options that county governments may exercise as it relates to these
subsidies, The NCACC recommends that counties who currently cover retirees
explore the Primary Employer Subsidy (Option 1) approach. Counties who wish to
exercise the Primary Employer Subsidy must take four steps by Sept. 30, 2005, one of
which is an actuarial study. The cost of the study could range anywhere from $3,000
to $5,000, depending on the size of your county and other factors.
• Click here for more information.
RMP to hold four Regional Advisory Committee meetings in
September
During the month of September, the Association's Risk Management Pools will hold
four Regional Advisory Committee meetings. These meetings are open to all counties
and county entities. Please send your RSVP to Amy Kunkle at the Raleigh office
indicating which meeting you wish to attend.
The Regional Advisory Committee meetings offer the Association a chance to meet
with members to learn about their risk management needs, gain feedback about the
Pools and learn how the Pools can improve their services to members. Members
attending these meetings set the agenda and discuss topics that are of interest to
them. Along with your RSVP, please let us know what topics you wish to discuss
http: / /www ncacc otg /e- newsupdates.htm] 9/9/2005
Page 4 of 5
Union
2,330,924
2,281,564
2,523,749
2,698,388
2,833,480
Vance
1,201,348
1,175,908
1,300,729
1,390,737
1,460,363
Wake
9,151,996
8,958,189
9,909,090
10,594,782
11,125,201
Warren
457,685
447,993
495,546
529,837
556,363
Washington
314,770
308,104
340,809
364,392
382,635
Watauga
349,075
341,683
377,952
404,106
424,337
Wayne
2,862,310
2,801,696
3,099,093
3,313,545
3,479,435
Wilkes
776,873
760,421
841,139
899,344
944,369
Wilson
1,862,794
1,823,347
2,016,893
2,156,458
2,264,420
Yadkin
471,336
461,355
510,327
545,641
572,958
Yancey
197,610
193,425
213,957
228,763
240,215
TOTALS
$161,500,000
$158,080,000
$174,860,000 $186,960,000 $196,320,000
Aug. 23, 2005
Medicare Part D: Strategies for counties who are plan
sponsors
Do you cover active employees age 65 or older on your county health plan? How
about retirees age 65 and older? If you do, you might want to take advantage of tax -
free money payable to your county for providing these benefits. Below is what you
need to know:
One of the least talked about beneficiaries of the new Medicare Part D offering are the
health plan sponsors (counties) providing retiree prescription drug benefits or covering
active employees age 65 and older for their health care and medications, These
counties providing this coverage have a unique opportunity to reduce their future
retiree prescription drug liability by 20 percent or more as a result of government
subsidies offered under Medicare Part D provisions.
There are several options that county governments may exercise as it relates to these
subsidies, The NCACC recommends that counties who currently cover retirees
explore the Primary Employer Subsidy (Option 1) approach. Counties who wish to
exercise the Primary Employer Subsidy must take four steps by Sept. 30, 2005, one of
which is an actuarial study. The cost of the study could range anywhere from $3,000
to $5,000, depending on the size of your county and other factors.
• Click here for more information.
RMP to hold four Regional Advisory Committee meetings in
September
During the month of September, the Association's Risk Management Pools will hold
four Regional Advisory Committee meetings. These meetings are open to all counties
and county entities. Please send your RSVP to Amy Kunkle at the Raleigh office
indicating which meeting you wish to attend.
The Regional Advisory Committee meetings offer the Association a chance to meet
with members to learn about their risk management needs, gain feedback about the
Pools and learn how the Pools can improve their services to members. Members
attending these meetings set the agenda and discuss topics that are of interest to
them. Along with your RSVP, please let us know what topics you wish to discuss
http: / /www ncacc otg /e- newsupdates.htm] 9/9/2005
NCACC
Page 5 of 5
Each meeting begins at 9:30 a.m, with networking opportunities and light }�
refreshments. Formal sessions will run from 10 a.m. - 2 p.m. Lunch will be provided
The four meeting dates and locations are:
• Sept 8 — Alamance County Youth Services Building (in downtown Graham)
• Sept 20 — Scotland County Administrative Conference Room
• Sept 22 — Beaufort County Economic Development Center
• Sept. 29 — Henderson County Administration Building Commissioners Meeting
Room
• Click here for more information.
http:// www .iicacc.oig /e- newsupdates.11tml 9/9/2005
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Updated September 13. 2005 to allow for Animal Shelter Site
IT oslvev� qe- 0
Proposed Projects to Fund with 2004 Two - Thirds Net Debt Bonds
$4.2 Million Available
Highlighted rows indicate projects that the BOCC approved for funding with two- thirds net debt bonds on June 23, 2004
Prniacts ROCC Has Aooroved for Fundina
EMS /911 Center Repairs
$315,000
Includes HVAC and flooring replacements along with parking area surfacing
Homestead Center Repairs
$90,000
OWASA Sewer connection
Stabilization
,and
On March 16, 2004, the Board awarded a bid and approved a contract to Romeo
Guest, Inc. for $706,166 for construction of the major elements of Little River Park;
Little River Park Development
$272,000
this amount is $272,000 more than the currently available funds; the Board directed
staff to include this amount in the updated five -year plan for the issuance of County
Central Recreation Repairs
$635,000
bonds and alternative financing. (does not include Laws House disposition)
New Courthouse Repairs
$190,000
Includes exterior trim repairs, roof repairs, foundation waterproofing and ceiling tile
10 Soccer Complex
replacemement
Whitted Human Services
000
$475,year
On October 1, 2003, the Board directed staff to include this amount in the updated five
Center ?
plan for the issuance of County bonds and alternative financing
Total Projects BOCC Has ..'$1,342,000
$600,000
Includes renovating areas in the jail to accommodate female inmates and
Approved for Fundin
attorney/inmate visitations
Projects for Recommended for Remaining 2004 Two - Thirds Net Debt Reduction Bond Funding
Animal Shelter Site
$170,000
As approved by the Board on September 7, 2005
Blackwood Farmhouse
$75000
To stabilize the existing structures located at the Blackwood Farm and preserve them
Stabilization
,and
prevent further deterioration.
To stabilize the existing structures located at the Cate Farm and preserve them and
Cate Farmhouse Stabilization
$125,000
prevent further deterioration.
Includes restroom repairs, office renovations, gymnasium window replacements and
Central Recreation Repairs
$635,000
door /lock replacement
OCS Middle School #3/West
$350,000
Provides funding to cover the County's portion of the roadway, lighting, and parking at
10 Soccer Complex
OCS Middle School/West 10 Soccer Complex
Emergency Management
$200,000
Includes renovations for relocation to a yet- to -be- acquired facility
Division Relocation
Renovations
$600,000
Includes renovating areas in the jail to accommodate female inmates and
Jail
attorney/inmate visitations
Lands Legacy & Conservation
$300,000
To provide "opportunity funds" to acquire land for the County's Lands Legacy and
Easements
Conservation Easement programs
Northern Human Services
$173,000
Funding to complete well and wastewater system installation and deconstruct the
Center Repairs
Vincent house
Originally approved at $675,000 to include Parks Operations Base and County
Parks Operations Base
$230,000
Storage Facility (Located at Public Works Site); $230,000 now recommended to upfit
Located at Valley Forge Road
existing Orange Enterprises facility located on Valley Fore Road
Projects for Recommended for
2004 Two - Thirds Net Debt
$2,858,000
Reduction Bond Funding
Total 2004 Two - Thirds Net $4,200,000
ctlon
Debt Redu Bond Funding
09/13,05
Debt Issuance Schedule By Fiscal Year
Alternative Financing, 2001 Voter Approved Bonds and 2004 Two Thirds Net Debt Reduction Bonds
Color Loeend
Page 1 of 5
R�
R
5
Completed Debt Issues In Fiscal Years 2002 -03 thmugh 2005-06
SOCC Endorsed May 5, 2004 Issuance Schedule
-_=
Staff Proposed October 25, 2004 Debt Issuance Schedule
BOCC Appmved September 3, 2002 Debt Issuance Schedule
_ 7
Staff Pmposed September 13, 2005 Debt Issuance Schedule
Now Proposed Projects
Page 1 of 5
R�
R
5
09/1305
Debt Issuance Schedule By Fiscal Year
Alternative Financing, 2001 Voter Approved Bonds and 2004 Two Thirds Net Debt Reduction Bonds
Color Legend
Page 2 of 5
Completed Debt Issues In Fiscal Years 2002 -03 through 2005-08
i
BOCC Endorsed May 5, 2004 Issuance Schedule
"
Staff Proposed October 25, 2004 Debt Issuance Schedule
BOCC Approved September 3, 2002 Debt Issuance Schedule
Staff Proposed September 13, 2005 Debt Issuance Schedule
New Proposed Projects
Page 2 of 5
W13,05
Debt Issuance Schedule By Fiscal Year
Alternative Financing, 2001 Voter Approved Bonds and 2004 Two Thirds Net Debt Reduction Bonds
Colo Legend
PaOe 3 of 5
Completed Debt Issues In Fiscal Years 200203 through 2005-06
SOCC Endorsed May 5, 2004 Issuance Schedule
Staff Proposed October 25, 2004 Debt Issuance Schedule
BOCC Approved September 3, 2002 Debt Issuance Schedule
Staff Proposed September 13, 2005 Debt Issuance Schedule
New Proposed Projects
PaOe 3 of 5
MIW5
Debt Issuance Schedule By Fiscal Year
Alternative Financing, 2001 Voter Approved Bonds and 2004 Two Thirds Net Debt Reduction Bonds
Cnlnr i.nnnnd
YrOecus
Completed Debt Issues In Fiscal Years 20D2 .03 through 200546
uus vyuutur
SOCC Endorsed May 5, 2004 Issuance Schedule
rrrurw
Staff Proposed October 25,2004 Debt Issuance Schedule
..
BOCC Approved September 3,2002 Debt issuance Schedule
:. I.
Staff Proposed September 13, 2005 Debt Issuance Schedule
New Proposed Projects
YrOecus
menllllaa mLVW I,VYV{ a
uus vyuutur
oa nuyur,u rurrurrrtl
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..
Animal Sorvlws (Now) Building
$O
SD
$O 1
SO
SO
$O
$0
5700.800
$O
SD
$O
15.800.800
SO
$5,700,000
55,700.800
County Campus (Now(
Development
SO
$D
s0
$O
s0
s0
$0
1 $1.800,000
SO
$O
SO
51120D,060
SO
$13,000.000
$13,000.000
Page 4 of 5
n Fiscal
2004 is
4 Debt Issuance Schedule
2002 Debt Issuance Schar
13,
0e ws
Debt Issuance Schedule By Fiscal Year
Alternative Financing, 2001 Voter Approved Bonds and 2004 Two Thirds Net Debt Reduction Bonds
01 Includes funding for a 25,000 square foot Senior Center located in southern Orange County and a 15,000 square foot center located In centrallnoMem Orange County .
Page 5 of 5