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.
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.