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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 alternative 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. 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 $3,966,016 $0 $3,966,016 <br /> 1997 Bonds $2,700,000 $0 $2,700,000 <br /> 2001 Bonds $5,250,000 $0 $5,250,000 <br /> 2004 Two-Thirds Net Debt $300,000 $0 $300,000 <br /> Grant Funds $421,950 $0 $421,950 <br /> Fees $0 $0 $0 <br /> Other(Transfer from Other <br /> Funds) $2,191,611 $0 $2,191,611 <br /> Total Funding $14,829,577 $0 $14,829,577 <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 $14,829,577 $0 $14,829,577 <br /> Design $0 $0 $0 <br /> Construction $0 $0 $0 <br /> Total Costs $14,829,577 $0 $14,829,577 <br />