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36 <br /> as general obligation bonds, or as alternative financing. <br /> 3. Provide to the BOCC in the fall, preferably in September 2009, a status report <br /> on the 2001 bond projects, including the amount of 2001 bond funds (or <br /> substituted alternative financing) that was spent on each project. <br /> 4. Adopt the "Capital Project Monitoring and Administrative Procedures" in <br /> principle and provide the two school systems with an opportunity to comment. <br /> TWO ADDITIONAL POINTS <br /> Commissioner Gordon made two additional points about the capital project <br /> ordinances. <br /> A. The Lands Legacy capital project ordinance was added to the agenda. <br /> Commissioner Gordon noted that the Lands Legacy capital project ordinance <br /> was added to the agenda for this item, and therefore that ordinance should be <br /> included in the ones that are approved. <br /> See the dark pink sheet that had the revised agenda item along with the <br /> ordinance. <br /> B. Gary Humphreys provided answers to questions in the second memo (6-2e). <br /> Commissioner Gordon also noted that the Commissioners received an email <br /> from Gary Humphreys giving answers to questions in her second memo, and <br /> she read some of the answers into the record. <br /> Commissioner Jacobs said that at the meeting in May he raised a <br /> question about the School Capital Reserve Fund, which Gary Humphreys was <br /> not clear about—what it was, where the money came from, and what its original <br /> purpose had been. <br /> Gary Humphreys said it has been budgeted for construction and a lot of <br /> other different purposes in the past. Some of it was transferred back to the <br /> general fund. <br /> Commissioner Jacobs asked for staff to go through and find when the <br /> fund was started and history and how it was used and if it is necessary in 2009- <br /> 10. <br /> A motion was made by Commissioner Gordon, seconded by <br /> Commissioner Nelson to: <br /> 1. Approve the amended capital project ordinances, as revised by the <br /> Commissioners during their discussion. This means that it is the capital project <br /> ordinances themselves that are being approved, and not the text explaining the <br /> ordinances in other parts of the agenda materials. <br /> 2. Approve the following statement with respect to the relationship of the 2001 <br /> bonds and alternative financing: <br />