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Greenway Development Reserve ~~ <br />Joint Town/County Open Space/Greenway Development <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 extend un-built portions of the <br />Chapel Hill and Carrboro greenway systems in a fashion to provide future <br />connections to Town and County parks and other open space networks. <br />Funds would be used specifically for trail construction and some land <br />acquisition, as needed. Proceeds from the 2001 voter approved bond <br />referendum 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. The following revenue is anticipated to complete this project: <br /> Through FY <br />2005-06 <br />FY 2006-07 Through FY <br />2006-07 <br />Sales Tax $0 $0 $0 <br />2001 Bonds $1,325,000 $0 $1,325,000 <br />2004 Two-thirds Net Debt $0 $0 $0 <br />Fees $0 $0 $0 <br />Transfer from Homestead <br />Aquatics Center Capital <br />Project <br /> <br />$425,000 <br /> <br />$0 <br /> <br />$425,000 <br />Total Funding $1,750,000 $0 $1,750,000 <br />Section 4. The following amount is appropriated for this project: <br /> Through FY <br />2U05-06 <br />FY 2006-07 Through FY <br />2006-07 <br />LandlBuilding $0 <br />Planning/Architect) <br />Engineering <br />$0 <br />$0 <br />$0 <br />Contribution to Carrboro <br />(Adams Tract) <br />$750,000 <br />$0 <br />$750,000 <br />Transfer to Bolin Creek <br />Greenway Project <br />$75,000 <br />$75,000 <br />Other $925,000 $925,000 <br />Total Costs $1,750,000 $0 $1,750,000 <br />