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Commission Capsule - December 18, 2012

Commissioners voted to approve a work plan for Pearson's Appraisal Services as part of the revaluation review process. The Board also agreed to hire Customer Service Solutions of Charlotte to help improve customer relations during the post-revaluation appeals process. Revaluation presentation

Bond Financing

Limited Obligation 
The Board passed a resolution allowing the County to refund a portion of the the 2008B Certificates of Participation (COPs) issued for the Bryton project. The refunding is expected to be about $14.5 million. These certificates are being refunded to avoid possible issues relating to their tax exemption. The payments the County receives for debt service from the developers may affect the tax exempt status of the issue.

General Obligation 
The Board passed a resolution authorizing the issuance of up to $276 million in bonds to refund outstanding bonds maturing in 2013-2028. The County has some fixed rate general obligation bond issues that now present an opportunity to refinance through a refunding bond issue, which will lower the interest rate, and therefore, generate cash flow savings to the debt service budget estimated to be $9.8 million over the life of these bonds. The County also has the opportunity to refinance some variable rate general obligation bond issues through a refunding bond issue, which will fix the interest rate and terminate the remaining swap agreements. This action will generate $4.3 million in cash flow savings over the remaining life of the associated debt. Fixing the interest rate on these bonds will address the County’s exposure to fluctuations in the bond market. The refunding sale date is scheduled for January 10, 2013.

Full report

2013 Legislative Agenda

For each legislative session, the Board of County Commissioners adopts a legislative agenda. The agenda includes specific legislation and general guiding principles. Here is a look at the 2013 recommended legislative agenda.

Medicaid Waiver Update

Phil Endress, director of MeckLINK Behavioral Healthcare, provided the Board with an update on the Medicaid Waiver. Details

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