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Gravelly Hill Middle School
<br /> Orange County Schools
<br /> Capital Project Ordinance
<br /> Be it ordained by the Orange County Board of County Commissioners that pursuant to Section 13.2 of
<br /> Chapter 159 of the General Statutes of North Carolina, the following capital project is hereby adopted.
<br /> Section 1. The project authorized provides funds for the Orange County Schools to purchase property
<br /> and design, construction, and equipping of a new middle school facility. Anticipated
<br /> revenues for the project consist of pay-as-you-go funding (transfer from General Fund and
<br /> Sales Tax Reimbursements), 2001 voter approved bond funds, a private placement loan,
<br /> and a transfer from the County Capital Fund.
<br /> Section 2. The officers of the County are hereby directed to proceed with the project within the budget
<br /> contained herein.
<br /> Section 3. The following County revenue is anticipated to complete this project:
<br /> Through FY Through FY
<br /> 2006-07 FY 2007-08 2007-08
<br /> ay- s- ou- o rans er
<br /> from General Fund) $802,000 $0 $802,000
<br /> Transfer rom oun y
<br /> Capital Fund $60,000 $0 $60,000
<br /> a es ax
<br /> Reimbursements $300,000 $0 $300,000
<br /> 2001 Bonds $18,500,000 $0 $18,500,000
<br /> Private Placement Loan $0 $0 $0
<br /> Total County Funding $23,222,000 $0 $23,222,000
<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 /> Constniction $16,189,393 $0 $16,189,393
<br /> Site Acquisition $775,005 $0 $775,005
<br /> Site Acquisition
<br /> (Soils/Werials Testing,
<br /> S— ) $20,000 $0 $20,000
<br /> Site Development $2,605,602 $2,605,602
<br /> Fees Design) $1,115,000 $0 $1,115,000
<br /> Nbveable Equi ment $0UU.LA." $600,000
<br /> Technolo.qy $650,000
<br /> s ion
<br /> Conti $465,000 $0 $465,000
<br /> One Time Start Up Costs $802,000 $0 $802,000
<br /> Total Cos $23,222,000 $0 $23,222,000
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