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Carrboro High School (Formerly High School #3)
<br /> Chapel Hill-Carrboro City Schools
<br /> Capital Project Ordinance
<br /> Be it ordained by the Orange County Board of County Commissioners that pursuant to Section
<br /> 13.2 of Chapter 159 of the General Statutes of North Carolina, the following capital project is
<br /> hereby adopted.
<br /> Section 1.The project authorized provides funds for the Chapel Hill-Carrboro City Schools to
<br /> acquire property for, and to design, construct, and.equip a new high school facility
<br /> to be located on Rock Haven Road, in the vicinity of the intersection of Smith Level
<br /> Road and Culbreth Road. Anticipated revenues for the project consist of 2001
<br /> voter approved bond funds, school construction impact fees, pay-as-you-go
<br /> funding, sales tax reimbursements, and alternative financing through a private
<br /> placement loan or similar debt instruments.
<br /> Section 2.The officers of the County are hereby directed to proceed with the project within the
<br /> budget contained herein.
<br /> Section 3.The following revenue is anticipated to complete this project:
<br /> 2006-07 FY 2007-08 2007-08
<br /> Sales Tax $4,342,000 $1,447,344 $5,789,344
<br /> School Construction
<br /> hnpactFees $9,300,000 $0 $9,300,000
<br /> Alternative Financing $9,000,000 $0 $9,000,000
<br /> 2001 Bonds $12,800,000 $0 $12,800,000
<br /> Sales Tax
<br /> Reimbursements $450,000 $0 $450,000
<br /> Total Funding $35,892,000 $1,447,344 $37,339,344
<br /> Section 4.The following amount is appropriated for this project:
<br /> Through FY Through FY
<br /> 2006-07 FY2007-08 2007-08
<br /> Constniction $27,147,803 $1,447,344 $28,595,147
<br /> Site Acquisition $3,531,697 $3,531,697
<br /> Site Develo nent $0 $0 $0
<br /> Fees $2,162,500 $0 $2,162,500
<br /> FmishiW $800,000 $0 $800,000
<br /> Technology $1,000,000 $0 $1,000,000
<br /> Construction Contingency $750,000 $0 $750,000
<br /> One-Tllm Start up Costs $500,000 $0 000
<br /> Total Cos $35,892,000 $1,447,344 $37,339,344 ` .
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