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oR~-amid- ay.3 <br />~- ~~ zd <br />~,~. <br />proposal to the NC Specialty. Crops Program for the Piedmont Food and Agricultural Processing <br />Center. <br />i. Business Plan for the Piedmont Food and Agricultural Processina Center <br />The Board received the business plan for the Piedmont Food & Agricultural Processing Center <br />and authorized the staff to continue with the establishment of the Piedmont Food & Agricultural <br />Processing Center. <br />L Fiscal Year 2009-10 Budget Amendment #10 <br />The Board approved budget, grant and capital project ordinance amendments for Fiscal Year <br />2009-10 for Department of Environment, Agriculture, Parks and Recreation; Economic <br />Development; Department on Aging; Economic Development (Value-Added Processing Center <br />Capital Project Ordinance); Board of Elections; and Emergency Services Department. <br />k. Appropriation of General Fund Balance to Fund Existing County Capital Projects <br />The Board approved the appropriation of $1,739,270 in General Fund Balance to provide <br />funding for 11 County Capital Projects which have a shortfall. <br />I. Appropriations of Solid Waste Fund Balance for the Lands Leaacv Project <br />The Board approved appropriating $50,000 from the Solid Waste Fund Balance to provide <br />funding for the Lands Legacy Project. <br />m. The Establishment of a County Capital Reserve Fund <br />The Board established a County Capital Reserve Fund for future County Capital needs by <br />approving the attached resolution. <br />RESOLUTION <br />ESTABLISHMENT OF THE COUNTY CAPITAL RESERVE FUND <br />WHEREAS, there is a need in Orange County, North Carolina to accumulate funds for future <br />County Capital needs; <br />NOW, THEREFORE, BE IT RESOLVED BY THE ORANGE COUNTY BOARD OF <br />COMMISSIONERS THAT: <br />Section 1. The Governing Board hereby creates a Capital Reserve Fund for the purpose of <br />funding future County capital needs. <br />Section 2. The fund will remain operational until such time as it is no longer needed. <br />Section 3. The County Capital Reserve Fund will be funded by: <br />- Pay as you go funds (i.e. property tax, sales tax) <br />- General Obligation Bonds <br />- Alternative Financing <br />- Other revenue sources the Board of Commissioners chooses to dedicate <br />Section 4. The Board of County Commissioners may designate funds to be reserved for a <br />specific future project that will be tracked individually, until the funds are appropriated for a <br />specific capital project in the County Capital Projects Fund. <br />Section 5. This resolution shall become effective upon adoption. <br />n. Close Completed County Capital Projects <br />The Board approved the closing of 26 completed County Capital Projects. <br />