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08 <br />LEE COUNTY <br />a '' <br />5 <br />Committed Today for a Better Tomorrow <br />LEE COUNTY BOARD OF COMMISSIONERS <br />ITEM ABSTRACT ITEM NO. VI. F. <br />Information <br />Meeting Date: May 22, 2014 XX Action Item <br />Consent Agenda <br />SUBJECT <br />Approval of Resolutions related to the Bond Referendum requested by the Central <br />Carolina Community College Board of Trustees <br />DEPARTMENT <br />Finance <br />CONTACT PERSON <br />Lisa G. Minter, Assistant County Manager /Finance Director <br />RE UEST: <br />Approval of a "Resolution Making Certain Findings and Determinations, Authorizing the <br />Filing of an Application with the Local Government Commission and Appointing Bond <br />Counsel in Connection with the Proposed Issuance of Community College Bonds by the <br />County" and a "Resolution of the County of Lee, North Carolina Declaring Its Official Intent <br />to Reimburse Expenditures Under United States Department of Treasury Regulations" <br />SUMMARY <br />On May 5, 2014, the Board of Commissioners voted to move ahead with a $23 million <br />bond referendum on November 4, 2014 for the Community College. To move ahead with <br />referendum the attached resolutions need to be approved by the Board of Commissioners. <br />The Notice of Intent that will be published in the newspaper after the resolutions are <br />adopted is included for your review, as well as the proposed form of the ballot. Please <br />note that the referendum has been divided into two questions. One in the amount of $18 <br />million and is related to the construction, expansion and renovation of educational <br />facilities. The second is in the amount of $5 million and is related to construction, <br />expansion and renovation of facilities used for economic development purposes. <br />BUDGET IMPACT <br />N/A <br />ATTACHMENT(S) <br />(1) — Resolution Making Certain Findings and Determinations, Authorizing the Filing of an <br />Application with the Local Government Commission and Appointing Bond Counsel <br />in Connection with the Proposed Issuance of Community College Bonds by the <br />County and Resolution of the County of Lee, North Carolina Declaring Its Official <br />Intent to Reimburse Expenditures Under United States Department of Treasury <br />Regulations <br />(2) — Draft of the Notice of Intent to Apply to the Local Government Commission for <br />Approval of Bonds <br />(3) — Draft of the Official Ballot <br />PUBLIC HEARING <br />No <br />PRIOR BOARD ACTION <br />On May 5, 2014, the Board of Commissioners voted to proceed with a bond referendum <br />for Community College projects. <br />RECOMMENDATION <br />Approve the attached Resolution as presented <br />