Guilford County
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File #: 2020-188    Version: 1 Name:
Type: New Business Status: Passed
File created: 3/10/2020 In control: Board of Commissioners
On agenda: 5/21/2020 Final action: 5/21/2020
Title: DIRECT COUNTY STAFF TO PREPARE APPLICATIONS, RESOLUTIONS, ORDERS AND PUBLICATIONS TO SET A VOTER REFERENDUM ON NOVEMBER 3, 2020 FOR SCHOOL BONDS
Attachments: 1. BOE Bond Referendum Request, 2. County Analysis of Projects in BOE Referendum Resolution, 3. GCS_2019_Facilities_Master Plan.pdf, 4. County Attorney - Bond Referendum Process Memo, 5. Financial Advisor Model Summary of Results, 6. Bond Funding - Revenue Neutral - Rate Neutral Calcs, 7. Sample Docs - Required Findings-Introduce Bond Order-Authorize Public Hearing
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TITLE

Title

DIRECT COUNTY STAFF TO PREPARE APPLICATIONS, RESOLUTIONS, ORDERS AND PUBLICATIONS TO SET A VOTER REFERENDUM ON NOVEMBER 3, 2020 FOR SCHOOL BONDS

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Sponsor

Sponsor

Harley Will

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BACKGROUND

Background

The County Board of Commissioners has been actively engaged with the County Board of Education in assessing the needs related to public school facilities in the county.  The Board of Commissioners, after diligent consideration, is directing county staff to prepare the necessary applications, resolutions, orders and publication to set a voter referendum on November 3, 2020 authorizing the county to issue general obligations bonds backed by the full faith and credit of the county's taxing authority for school facilities.  These actions shall include:

 

by May 25, 2020                                Publish notice of intention to apply to the LGC.

 

By June 4, 2020                                          File an LGC Application for Approval of the Issuance of General

                                                                                    Obligation Bonds.

 

June 4, 2020                                                               Introduce a bond order, setting a public hearing

                                                                                    date and file statement of debt; adopt a preliminary resolution

                                                                                    described in the LGC application.

 

By June 12, 2020                                          Publish a bond order as introduced with a notice of public hearing.

 

June 18, 2020                                          Hold a public hearing, adopt bond order, and set a

                                                                                    referendum date.

 

After June 18, 2020                     Publish the bond order as adopted and the notice of referendum

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REQUESTED ACTION

Requested Action

Authorize county staff to prepare applications, resolutions, orders, and publications to set a Voter Referendum on November 3, 2020 for school bonds in the maximum amount of $300 million.

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