August 2, 2004 ITEM # 4
Item
Title: Resolutions Introducing Bonds Orders for General Obligation Bonds
for Wake Technical Community College and Open Space and Approval of Resolutions
Scheduling a Public Hearing on the above General Obligation Bonds for August
16, 2004 at 2:00pm and Authorization to Publish a Notice of the Public Hearing
as Required by the Local Government Bond Act
Specific
Action Requested:
The Board
of Commissioners accept the attached bond orders for General Obligation Debt, schedule
a public hearing on August 16, 2004 and authorize the publication of the notice
of public hearing on the bond orders.
Item
Summary:
This is the second step in the process to place two
separate referendums (General Obligation Bonds for Wake Technical Community
College for $40,000,000 and Open Space for $26,000,000) on the November 2004
ballot. At the July 12, 2004 Board of Commissioners meeting, the Board approved
the filing of an application with the Local Government Commission, which was
done on July 13, 2004. At this meeting
the Board is being asked to receive the Bond Orders for the above referendums,
schedule a public hearing to allow public to comment on the bond orders on
August 16, 2004 and authorize publication of the public hearing.
Both the $40,000,000 for Wake Technical Community
College and the $26,000,000 for Open Space have been included in the County’s
multi-year CIP / Debt Service models and can be financed without a tax increase
for debt service.
On the August 16, 2004 agenda the Board will be asked
to hold a public hearing and approve the bond orders.
Attachments: