Orange County NC Website
Browse       Search
26 <br />Attachment 2s <br />Debt Issuance Costs and Transfers <br />Capital Project Ordinance <br />Be it ordained by the Orange County Board of County Commissioners that pursuant to Section <br />13.2 of Chapter 159 of the General Statutes of North Carolina, the following capital project <br />ordinance is hereby adopted. <br />Section 1. The project authorized provides funds from interest earnings to pay debt issuance <br />and other debt related costs and for transfers to the General Fund for debt service. <br />Section 2. The officers of the County are hereby directed to proceed with the project within the <br />total budget contained herein. <br />Section 3. The following revenue is anticipated to complete this project. <br /> FY 2007108 Amendment FY2008/09 <br />Interest on Investments $1,890,000 $1,890,000 <br />Total 0 $1,890,000 $1,890,000 <br />Section 4. The following amount is appropriated for this project. <br /> FY 2007/08 Amendment FY2008/09 <br />Transfer to Gen Fund $1,720,000 $1,720,000 <br />Debt Related Costs 170,000 170,000 <br />Total 0 $1,890,000 $1,890,000 <br />Section 5. This ordinance supersedes any previous Capital Project Ordinances for this project. <br />Section 6. This ordinance shall remain in effect the Board of County Commissioners takes <br />action to amend the ordinance or close the project ordinance upon completion of <br />the project. <br />Adopted this 16th day of June 2009. <br />