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<br />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 />Section 4.The following amount is appropriated for this project:
<br />2006 -07
<br />FY 2007 -08
<br />2007 -08
<br />Sales Tax
<br />$4,342,000
<br />$1,447,344
<br />$5,789,344
<br />School Construction
<br />Impact Fees
<br />$9,300,000
<br />$0
<br />$9,300,000
<br />Alterative Financing
<br />$9,000,000
<br />$0
<br />$9,000,000
<br />2001 Bonds
<br />$12,800,000
<br />$0
<br />$12,800,000
<br />Sales Tax
<br />Reimbursements
<br />$450,000
<br />$0
<br />$450,000
<br />1
<br />Total Ftradingi
<br />$35,892,000
<br />1 $1,447,344
<br />$37,339,344
<br />Section 4.The following amount is appropriated for this project:
<br />Through FY
<br />2006 -07
<br />FY 2007-08
<br />Through FY
<br />2007 -08
<br />Construction
<br />$27,147,803
<br />$1,447,344
<br />$28,595,147
<br />Site Acquisitim
<br />$3,531,697
<br />$0
<br />$3,531,697
<br />Site Developmmt
<br />$0
<br />$0
<br />$0
<br />Fees
<br />$2,162,500
<br />$0
<br />$2,162,500
<br />FumisHngs
<br />$800,000
<br />$0
<br />$800,000
<br />Tecbriology
<br />$1,000,000
<br />$0
<br />$1,0001000
<br />Conssxuction ca3fingemy
<br />$750,000
<br />750,000
<br />One -Trme Start Up Costs
<br />$500,000
<br />$0
<br />$500,0001
<br />Total Costs
<br />$35,892,000
<br />$1,447,344 1
<br />$37,339,344
<br />
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