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Southern Community Park <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 for the development of park <br /> facilities on a parcel of land owned by the Town of Chapel Hill on US <br /> 15/501 South. Proceeds from the 1997 and 2001 bonds finance this <br /> 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 $0 <br /> 1997 Bonds $1,000,000 $0 $1,000,000 <br /> 2001 Bonds $2,000,000 $0 $2,000,000 <br /> Transfer from Greenway <br /> Development Capital Project $925,000 $0 . $925,000 <br /> Grant Funds $0 $0 $0 <br /> Total Funding $3,925,000 $0 $3,925,000 <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 $0 <br /> Design $0 $0 $0 <br /> Construction $0 $0 $0 <br /> Contribution to Town of <br /> Chapel Hill $3,925,000 $0 $3,925,000 <br /> Total Costs $3,925,000 $0 $3,925,000 <br /> Section 5. This ordinance supersedes previous Southern Community Park <br /> Ordinances for Orange County. <br /> Section 6. This ordinance shall be in effect from July 1, 1998 until June 30, 2008. <br /> Adopted this 26th day of June 2007. <br />