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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 Through FY <br /> 2006-07 FY 2007-08 2007-08 <br /> Sales Tax $0 $0 $o <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 $425,000 $0 $425,000 <br /> Total Funding I $1,750,000 $0 $1,750,000 <br /> Section 4. The following amount is appropriated for this project: <br /> Through FY Through FY <br /> 2006-07 FY 2007-08 2007-08 <br /> Land/Building $0 $0 <br /> Planning/Architect/ <br /> Engineering $0 $0 $0 <br /> Contribution to Carrboro <br /> (Adams Tract) $750,000 $0 $750,000 <br /> Transfer to Bolin Creek <br /> Greenway Project $75,000 $75,000 <br /> Other $925,000 $925,000 <br /> $0 $1,750,000 <br /> Total Costs $1,750,000 <br />