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<br />Lands Legacy
<br />Capital Project Ordinance
<br />Be it ordained by the Orange County Board of County Commissioners that pursuant to
<br />Section 13.2 of Chapter 159 of the General Statutes of North Carolina, the following
<br />capital project is hereby adopted.
<br />Section 1. The project authorized provides funds to protect identified natural areas
<br />and prime forestlands, and preserve critical cultural and archaeological
<br />sites. In addition funds may be used to acquire lands for future park sites,
<br />farmland conservation easements, and nature preserves. Proceeds from
<br />the 2001 voter approved bonds, 2004 Two-thirds net debt reduction
<br />bonds, half-cent sales tax, Subdivision Payment-in-Lieu funds, Grant
<br />Funds, and debt financing finance the project.
<br />Section 2. The officers of the County are hereby directed to proceed with the project
<br />within the budget contained herein.
<br />Section. 3.
<br />The following revenue is anticipated to complete this project:
<br />1z
<br /> Through FY
<br />2007-08 FY 2008-09
<br />Amendments
<br />FY 2009-10 Through F'Y
<br />2009-10
<br />Sales Tax $3,966,016 $0 $0 $3,966,016
<br />1997 Bonds $2,700,000 $0 $0 $2,700,000
<br />2001 Bonds $5,250,000 $0 $5,250,000
<br />2004 Two-Thirds Net Debt $300,000 $0 $0 $300,000
<br />Grant Funds $421,950 $0 $0 $421,950
<br />Debt Financing $0 $2,800,000 $0 $2,800,000
<br />Other(Transfer from Other
<br />Funds)
<br />$2,241,611
<br />$0
<br />$0
<br />$2,241,611
<br />Total finding $14,879,577 $2,800,000 $0 $17,679,577
<br />Section 4. The following amount is appropriated for this project:
<br /> Through FY
<br />2007-08 FY 2008-09
<br />Amendments
<br />FY 2009-10 Through FY
<br />2009-10
<br />Land/Building $13,171,564 $2,800,000 $0 $15,971,564
<br />Design $0 $0 $0 $0
<br />Construction $0 $0 $0 $0
<br />Eno River Confluence Property $250,000 $0 $0 $250,000
<br />Kirby Property $1,458,013 $0 $0 $1,458,013
<br />Total Costs $14,879,577 $2,800,000 $0 $17,679,577
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