Discussion of General Obligation (GO) Bond Process for Public Facilities Project, and consider approval of three(3) resolutions to initiate a General Obligation Bond Referendum

Finance Director Pieter Swart

Summary:  The Board will discuss the use of General Obligation Bonds to fund public facilities.  To initiate the General Obligation Bond referendum process three resolutions are necessary:

Resolution 2018-14 - Authorizes the Finance Officer to submit an application to the LGC to issue General Obligation Bonds.

Resolution 2018-15 - Certain findings of fact by the Board of Commissioners must be presented to enable the Local Government Commission of the State of North Carolina to make certain determinations as set forth in NCGS Section 159-52.

Resolution 2018-16 - Directs the Town Clerk to publish the "Notice of Intention to Apply to the Local Government Commission for Approval of Bonds" in a newspaper of general circulation.