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Lake Michael <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 allow the County to collaborate <br /> with the City of Mebane to construct piers, install playground equipment <br /> and make other improvements. Proceeds from the County's share of pay- <br /> as-you-go capital funds 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 $25,000 $25,000 $50,000 <br /> 2001 Bonds $0 $0 $0 <br /> 2004 Two-Thirds Net Debt $0 $0 $0 <br /> Fees $0 $0 $0 <br /> Other $0 $0 $0 <br /> Total Funding $25,000 $25,000 $50,000 <br /> Section 4. The following amount is appropriated for this project: <br /> Through FY Through FY Through FY <br /> 2006-07 2007-08 2007-08 <br /> Land/Building $0 $0 $0 <br /> Plan n i ng/Arch itect/E <br /> ngineering $0 $0 $0 <br /> Construction $0 $0 $0 <br /> Contribution to City <br /> of Mebane $25,000 $25,0001 $50,000 <br /> Total Costs $25,000 $25,000 $50,000 <br /> Section 7. This ordinance shall be in effect from the original date of adoption, March <br /> 24, 2003 until June 30, 2008. <br /> Adopted this 26th day of June 2007. <br />